Versatile Systems Inc.

Versatile Systems Inc.

February 23, 2011 20:14 ET

Versatile Announces Stock Option Grants

VANCOUVER, CANADA--(Marketwire - Feb. 23, 2011) - Versatile Systems Inc. (TSX VENTURE:VV)(AIM:VVS), announces stock option grants approved by the Board of Directors.

Versatile has granted incentive stock options to employees, officers and directors of the Company, to acquire a total of 7,122,100 common shares of the Company with vesting commencing after four months, exercisable for a period of five years at a price of CDN $0.11 per share, subject to the approval of the TSX Venture Exchange.

Since the last stock option grant in June 2009 a total of 4,609,000 stock options have expired or been forfeited.

About Versatile

Versatile provides business solutions that enable companies to improve sales, marketing and distribution of their products. Versatile also provides information technology services for the implementation, maintenance and security of mission-critical computer environments. Versatile has the ability to architect solutions involving both proprietary and third party components. For more information:

Forward-Looking Statements

This document may contain forward-looking statements relating to Versatile's operations or to the environment in which it operates, which are based on Versatile's operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict or are beyond Versatile's control. A number of important factors including those set forth in other public filings could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. In addition, these forward-looking statements relate to the date on which they are made. Versatile disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

© 2011 Versatile Systems Inc. All rights reserved.

The TSX Venture Exchange and the AIM market of the London Stock Exchange have not reviewed and do not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Versatile Systems Inc.
    John Hardy
    Chairman and CEO
    International: 001-206-979-6760
    Versatile Systems Inc.
    Fraser Atkinson