Versatile Systems Inc.

Versatile Systems Inc.

January 23, 2008 04:00 ET

Versatile Reports on Normal Course Issuer Bid

Versatile purchases 702,500 common shares

VANCOUVER, CANADA--(Marketwire - Jan. 23, 2008) - Versatile Systems Inc. (TSX VENTURE:VV)(AIM:VVS) today announced that since commencing on December 7, 2007 with its previously announced Normal Course Issuer Bid the Company has purchased 702,500 common shares at an average price of CDN $0.229 per share, which the Board of Directors has approved to be cancelled.

As a result of the AIM Rules, which impose certain blackout rules on insider and Company purchases, the Company will not be making any further share purchases until the results for the second quarter are released.

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) 2008 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