Versatile Systems Inc.

Versatile Systems Inc.

June 18, 2009 17:03 ET

Versatile Announces Stock Option Grants

Cancels 304,000 common shares held in Treasury

VANCOUVER, CANADA--(Marketwire - June 18, 2009) - 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 the employees, officers and directors of the Company, to acquire a total of 4,241,000 common shares of the Company vesting after four months, exercisable for a period of four years at a price of CDN $0.10 per share, subject to the approval of the TSX Venture Exchange.

Since the last stock option grant in January 2008 a total of 6,003,616 stock options and warrants have expired or been forfeited.

The Board of Directors has also approved the cancellation of 304,000 common shares held in Treasury that were acquired in 2008 bringing the total to 2,863,000 common shares that have been cancelled pursuant to the Normal Course Issuer Bid. After these shares are cancelled the Company will have 118,285,643 common shares issued and outstanding.

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.

(C) 2009 Versatile Systems Inc. All rights reserved.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Versatile Systems Inc.
    John Hardy
    Chairman and CEO
    1-800-262-1633 or International: 001-206-979-6760
    Versatile Systems Inc.
    Fraser Atkinson