Versatile Systems Inc.
TSX VENTURE : VV
AIM : VVS

Versatile Systems Inc.

June 27, 2008 03:15 ET

Versatile Reports on Normal Course Issuer Bid

Versatile purchases 3,261,500 common shares

VANCOUVER, CANADA--(Marketwire - June 27, 2008) - Versatile Systems Inc. (TSX VENTURE:VV)(AIM:VVS) today announced that since commencing on December 7, 2007 with its Normal Course Issuer Bid the Company has purchased 3,261,500 common shares. On January 22, 2008 the Board approved the cancellation of 702,500 of these shares. The balance of 2,559,000 shares were purchased from February 12, 2008 to June 25, 2008 at an average price of CDN $0.176 per share, which the Board of Directors has approved to be cancelled.

The Company is permitted to purchase up to 6,000,000 common shares on or before November 25, 2008.

As a result of the AIM Rules, which impose certain blackout rules on insider and Company purchases, commencing sometime in July the Company will not make any further share purchases until the results for the fourth 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: www.versatile.com.

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
    or
    Versatile Systems Inc.
    Fraser Atkinson
    CFO
    1-800-262-1633
    Website: www.versatile.com