VersaPay Corporation http://www.versapay.com A Leading Cloud-Based Accounts Receivable Solution Fri, 22 May 2015 17:11:04 +0000 en-US hourly 1 Video: Craig O’Neill on BNN http://www.versapay.com/video-craig-oneill-on-bnn/ http://www.versapay.com/video-craig-oneill-on-bnn/#comments Thu, 21 May 2015 21:32:39 +0000 http://www.versapay.com/?p=1499

]]>
http://www.versapay.com/video-craig-oneill-on-bnn/feed/ 0
VersaPay’s CEO Craig O’Neill to Appear on BNN http://www.versapay.com/versapays-ceo-craig-oneill-to-appear-on-bnn/ http://www.versapay.com/versapays-ceo-craig-oneill-to-appear-on-bnn/#comments Wed, 20 May 2015 04:46:25 +0000 http://www.versapay.com/?p=1401 Continue reading VersaPay’s CEO Craig O’Neill to Appear on BNN ]]> Toronto, Ontario — May 19, 2015 — VersaPay Corporation (TSXV:VPY) (“VersaPay” or the “Company”) is pleased to announce that its President and CEO, Craig O’Neill, is scheduled to appear on the Business News Network (BNN) with Frances Horodelski on Thursday, May 21 at 11:10am EDT. Mr. O’Neill will discuss the Company’s transformation from its stable legacy merchant services business to a fast growing cloud-based software company, providing accounts receivable solutions to businesses across Canada and the U.S.
About VersaPay

VersaPay is a leading cloud-based invoice presentment and payment provider for businesses of all sizes. VersaPay’s ARC™ software-as-a-service offering allows businesses to easily deliver customized electronic invoices to their customers, to accept credit card and EFT payments and automatically reconcile payments to their ERP and accounting software. VersaPay is headquartered in Toronto, Canada and also has operations in Montreal and New York.

More information about VersaPay can be found on the Company’s website at www.versapay.com or under the Company’s profile on SEDAR at www.sedar.com.

For further information visit www.versapay.com or contact:

David CW ChanChief Financial Officer

VersaPay Corporation

647-258-9475

david.chan@versapay.com

Babak PedramInvestor Relations

Virtus Advisory Group Inc.

416-644-5081

bpedram@virtusadvisory.com

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

]]>
http://www.versapay.com/versapays-ceo-craig-oneill-to-appear-on-bnn/feed/ 0
VersaPay Corporation Closes $4.84 Million Bought-Deal Financing http://www.versapay.com/versapay-corporation-closes-4-84-million-bought-deal-financing/ http://www.versapay.com/versapay-corporation-closes-4-84-million-bought-deal-financing/#comments Thu, 07 May 2015 18:57:28 +0000 http://www.versapay.com/?p=1278 Continue reading VersaPay Corporation Closes $4.84 Million Bought-Deal Financing ]]> Toronto, Ontario – May 7, 2015 VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), a leading provider of cloud-based payment solutions, is pleased to announce that it has closed its previously announced bought-deal private placement (the “Offering”) for gross proceeds of $4,840,001.60.

A syndicate of underwriters (the “Underwriters”) led by Haywood Securities Inc. and including Cormark Securities Inc. completed the Offering of 3,457,144 units of the Company (“Units”) at a price of $1.40 per Unit (the “Issue Price”). Each Unit is comprised of one common share of the Company (each, a “Common Share”) and one-half (1/2) of one Common Share purchase warrant (each whole Common Share purchase warrant, a “Warrant”). Each Warrant will be exercisable to acquire an additional Common Share (a “Warrant Share”) at an exercise price of $2.00 per Warrant Share for a period of 24 months following the closing of the Offering. The expiry date of the Warrants may be accelerated by VersaPay at any time following the six-month anniversary of the closing of the Offering and prior to the expiry date of the Warrants if the volume-weighted average trading price of the Common Shares is greater than $2.50 for any 20 consecutive trading days, at which time the Company may accelerate the expiry date of the Warrants by issuing a press release announcing the reduced term of the Warrants whereupon the Warrants will expire on the 20th calendar day after the date of such press release.

In consideration for their services, the Underwriters will receive a cash commission equal to 6.0% of the gross proceeds of the Offering, and such number of compensation options (“Compensation Options”) equal to 6.0% of the aggregate number of Units issued pursuant to the Offering. Each Compensation Option is exercisable for one Unit at the Issue Price for a period of 24 months from closing of the Offering.

The Company is pleased to announce the participation of new and existing retail and institutional investors, led by StableView Asset Management Inc.

The Offering remains subject to final approval of the TSX Venture Exchange. All securities issued and issuable in connection with the Offering are subject to a statutory hold period expiring on September 8, 2015.

The net proceeds from the Offering will be used to fund working capital and general corporate purposes.

These securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “US Securities Act”), or under any securities laws of any state or other jurisdiction of the United States and may not be offered, sold, taken up, transferred or delivered, directly or indirectly, within the United States or to or on behalf of a U.S. person (as defined in Regulation S under the US Securities Act). Resales of these securities acquired by any U.S. person in the secondary market may be made only pursuant to Rule 904 under Regulation S, or pursuant to another exemption from the registration requirements of the US Securities Act.

About VersaPay
VersaPay is a leading cloud-based invoice presentment and payment provider for businesses of all sizes. VersaPay’s ARC™ software-as-a-service offering allows businesses to easily deliver customized electronic invoices to their customers, to accept credit card and EFT payments and automatically reconcile payments to their ERP and accounting software. VersaPay is headquartered in Toronto, Canada and also has operations in Montreal and New York.
More information about VersaPay can be found on the Company’s website at www.versapay.com or under the Company’s profile on SEDAR at www.sedar.com.

For additional information, please contact:

David CW Chan

Chief Financial Officer

VersaPay Corporation

647-258-9475

david.chan@versapay.com

Babak Pedram

Investor Relations

Virtus Advisory Group Inc.

416-644-5081

bpedram@virtusadvisory.com

Forward-Looking and other Cautionary Statements
This news release contains forward-looking statements and information, including statements relating to the use of proceeds of the Offering, that are based on the beliefs of management and reflect the Company’s current expectations. When used in this news release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology, are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks relating to the speculative nature of the Company’s business, the Company’s formative stage of development and the Company’s financial position. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as may be required by applicable securities laws.
Investors are cautioned against attributing undue certainty to forward-looking statements. There are a number of important factors that could cause the Company’s actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others, risks related to following: the Company’s financial position and the potential need for future financings, the ability of the Company to maintain its relationship with its strategic partner for payment processing, the efforts and abilities of the senior management team, the ability of the Company to attract and retain skilled management, competition in the payment processing industry, and the Company’s ability to respond to technological change and protect its intellectual property rights.
The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed a certain progression, which may not be realized. It has also assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. There can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

]]>
http://www.versapay.com/versapay-corporation-closes-4-84-million-bought-deal-financing/feed/ 0
Metroland Media Group Implements VersaPay’s Cloud-Based Intelligent AR Solution http://www.versapay.com/metroland-media-group-implements-versapays-cloud-based-intelligent-ar-solution/ http://www.versapay.com/metroland-media-group-implements-versapays-cloud-based-intelligent-ar-solution/#comments Tue, 05 May 2015 06:57:00 +0000 http://www.versapay.com/?p=1276 Continue reading Metroland Media Group Implements VersaPay’s Cloud-Based Intelligent AR Solution ]]> Toronto, ON – May 5, 2015 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, is pleased to announce the successful implementation of its ARCTM software-as-a-service offering with Metroland Media Group (“Metroland”). Metroland, Ontario’s largest and most successful community newspaper publisher, and VersaPay pursued a staged implementation approach with ARC, initially rolling out to about 1,200 advertising customers in one community newspaper. To date, ARC has been implemented across approximately one third of Metroland’s operating divisions, serving thousands of advertisers.

We opted for a staged approach of ARC so that we could solicit customer feedback throughout the implementation process,” commented Jackie Dekar, Business Systems Support Manager at Metroland. “We were very pleased to hear that an overwhelming majority of our customers found the system intuitive and easy to use. In fact, within a few hours of sending out initial invitations for our customers to sign up for ARC, we were already receiving payments. As a direct result of customer feedback and a high adoption rate we have accelerated our roll-out plans as we issue more than one million invoices annually.”

Over the past several months we have worked closely with Metroland to enhance ARC to meet their needs, and the needs of their customers,” stated VersaPay’s Chief Executive Officer Craig O’Neill. “This effort has been an excellent collaboration, allowing us to leverage the deep insight and extensive experience of the Metroland team to build many newspaper industry specific features into the system; features that will serve Metroland well as they issue upwards of 90,000 invoices monthly, and features that will allow us to attract and serve many other newspaper companies. This project is a model for how we look to address the needs of our selected vertical markets.”

About Metroland Media Group Ltd.

Metroland Media Group Ltd. is a dynamic media company delivering vital business and community information to millions of readers across Ontario each week, with 112 newspapers, numerous websites, other specialty and monthly publications, consumer shows and distribution operations.

About VersaPay

VersaPay is a leading cloud-based invoice presentment and payment provider for businesses of all sizes. VersaPay’s ARC software-as-a-service offering allows businesses to easily deliver customized electronic invoices to their customers, to accept credit card and EFT payments and automatically reconcile payments to their ERP and accounting software. VersaPay is headquartered in Toronto, Canada and has operations in Montreal and New York.

More information about VersaPay can be found on the Company’s website at www.versapay.com or under the Company’s profile on SEDAR at www.sedar.com.

For additional information, please contact:

David CW Chan

Chief Financial Officer

VersaPay Corporation

647-258-9475

david.chan@versapay.com

John McLeod

Vice President, Marketing

VersaPay Corporation

647-258-9406

john.mcleod@versapay.com

Babak Pedram

Investor Relations

Virtus Advisory Group Inc.

416-644-5081

bpedram@virtusadvisory.com

Forward Looking and Other Cautionary Statements

This news release contains “forward-looking information” which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. Such forward-looking information is often, but not always, identified by the use of words and phrases such as “plans,” “expects,” “is expected,” “budget,” “scheduled,” “estimates,” “forecasts,” “intends,” “anticipates,” or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved.

These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. Management believes that these assumptions are reasonable. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, risks related to the speculative nature of the Company’s business, the Company’s formative stage of development and the Company’s financial position.

Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

]]>
http://www.versapay.com/metroland-media-group-implements-versapays-cloud-based-intelligent-ar-solution/feed/ 0
CPA Ontario Spring Leadership Conference http://www.versapay.com/cpa-ontario-spring-leadership-conference/ http://www.versapay.com/cpa-ontario-spring-leadership-conference/#comments Mon, 04 May 2015 11:37:15 +0000 http://www.versapay.com/?p=1144 June 18-19, 2015
Hilton Toronto Airport, 5875 Airport Road, Mississauga

]]>
http://www.versapay.com/cpa-ontario-spring-leadership-conference/feed/ 0
Visit Us at IFO Fusion in Sunny Florida http://www.versapay.com/visit-us-at-ifo-fusion-in-sunny-florida/ http://www.versapay.com/visit-us-at-ifo-fusion-in-sunny-florida/#comments Mon, 27 Apr 2015 11:36:30 +0000 http://www.versapay.com/?p=1142 Booth #419
Gaylord Palms Resort & Convention Center
Orlando, Florida
May 11 – 13, 2015

]]>
http://www.versapay.com/visit-us-at-ifo-fusion-in-sunny-florida/feed/ 0
VersaPay Named On the 2015 Branham300 Ranking http://www.versapay.com/versapay-named-on-the-2015-branham300-ranking/ http://www.versapay.com/versapay-named-on-the-2015-branham300-ranking/#comments Thu, 23 Apr 2015 18:56:34 +0000 http://www.versapay.com/?p=1274 Continue reading VersaPay Named On the 2015 Branham300 Ranking ]]> Toronto, ON – April 23, 2015 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, is pleased to announce it has been recognized by Branham Group, a leading technology research and consulting firm, in its 2015 Branham300 industry ranking report. The Branham300 recognizes the top Canadian and Multinational Information and Communication Technology (ICT) companies operating in Canada. For 2015 VersaPay was ranked 131st of the 300 companies listed on the Branham300.

“We are very honoured to be recognized as a growing technology company by a leading research firm such as Branham,” commented Craig O’Neill, VersaPay’s CEO. “We believe the future for ARC, our cloud-based accounts receivable software, is very bright and that the success we are achieving in the market will continue to earn us recognition from customers, research groups, and our technology peers.”

For over 20 years, the Branham300 has highlighted the top Canadian and Multinational ICT companies operating in Canada, as ranked by revenues. It illustrates the depth and breadth of innovative technologies developed in Canada and is widely considered to be a leading source of intelligence on Canada’s ICT industry.

About Branham Group Inc.

Branham Group Inc. is a leading industry analyst and strategic consulting company servicing the global Information, Communication and Entertainment (ICE) Technology marketplace. Branham Group assists ICE Technology companies and related institutions in achieving market success through its custom consulting services (Planning, Marketing and Partnering), and through its multi-client research subscription programs (Digital Health, Green IT and Cloud). Branham also produces an annual listing of the top ICT companies in Canada (www.branham300.com) and monitors over 450 Digital Health vendors (www.branhamgroup.com/digitalhealth).

For more information regarding Branham Group, please visit www.branhamgroup.com.

About VersaPay

VersaPay is a leading cloud-based invoice presentment and payment provider for businesses of all sizes. VersaPay’s ARC software-as-a-service offering allows businesses to easily deliver customized electronic invoices to their customers, to accept credit card and EFT / ACH payments and automatically reconcile payments to their ERP and accounting software.

VersaPay is headquartered in Toronto, Canada, and has operations in Montreal and New York.

For additional information about this news release, please contact:

John McLeod, Vice President, Marketing, VersaPay Corporation

Telephone: (647) 258-9406 Email: john.mcleod@versapay.com OR

David C.W. Chan, Chief Financial Officer, VersaPay Corporation

Telephone: (647) 258-9475 Email: david.chan@versapay.com

More information about VersaPay can be found at www.versapay.com.

Forward Looking and Other Cautionary Statements

This news release contains “forward-looking information” which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. Such forward-looking information is often, but not always, identified by the use of words and phrases such as “plans,” “expects,” “is expected,” “budget,” “scheduled,” “estimates,” “forecasts,” “intends,” “anticipates,” or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved.

These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. Management believes that these assumptions are reasonable. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, risks related to the speculative nature of the Company’s business, the Company’s formative stage of development and the Company’s financial position.

Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

]]>
http://www.versapay.com/versapay-named-on-the-2015-branham300-ranking/feed/ 0
VersaPay Investor & Analyst Day – Tuesday May 5, 2015 http://www.versapay.com/versapay-investor-analyst-day-tuesday-may-5-2015/ http://www.versapay.com/versapay-investor-analyst-day-tuesday-may-5-2015/#comments Mon, 20 Apr 2015 11:34:49 +0000 http://www.versapay.com/?p=1140 TMX Gallery

The Exchange Tower
130 King St., W., Toronto

RSVP:
Jelena Radecki
jelena.radecki@versapay.com

]]>
http://www.versapay.com/versapay-investor-analyst-day-tuesday-may-5-2015/feed/ 0
VersaPay Announces Q4 and Fiscal 2014 Results http://www.versapay.com/versapay-announces-q4-and-fiscal-2014-results/ http://www.versapay.com/versapay-announces-q4-and-fiscal-2014-results/#comments Thu, 16 Apr 2015 18:55:43 +0000 http://www.versapay.com/?p=1272 Continue reading VersaPay Announces Q4 and Fiscal 2014 Results ]]> Toronto, ON – April 15, 2015 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, reported fourth quarter (Q4) financial results for the three and twelve-month period ended December 31, 2014.

“We continue to focus our attention on rolling out our ARC™ solution offering and we are very pleased with our progress in this regard,” said Craig O’Neill, CEO of VersaPay. “We are confident ARC™ will become an industry leader in the business-to-business integrated payments space, providing businesses of all sizes with a cloud-based approach to managing accounts receivable with their customers. As a result, we expect ARC™ to become a larger percentage of our overall revenues compared to POS Merchant Services moving forward. In addition, we expect the recurring revenues from ARC™ will provide VersaPay with a more predictable cash flow stream and improved margins in the future.”

Financial Highlights:

• Total revenue for Q4 2014 increased by 4% to $1.2 million, compared to $1.1 million in Q4 2013, and increased by 7% to $5.2 million in FY 2014, compared to $4.8 million in FY 2013. The year-over-year improvement was driven primarily by growth in the Company’s transaction processing fees.

• POS Merchant Services revenue for FY 2014 increased by 5% to $4.7 million compared to $4.4 million in FY 2013.

• VersaPay Solutions revenue for FY 2014 increased by 28% to $0.5 million, compared to $0.4 million in FY 2013.

• Gross margin percentages for the three and twelve-month periods ended December 31, 2014 were 61.7% and 62.2%, respectively, compared to 67.8% and 66.6% in the 2013.

• Cash operating expense (excluding non-cash operating items) increased 67% to $1.6 million in Q4 2014 from $1.0 million in Q4 2013. Cash operating expense for FY 2014 was $5.8 million compared to $4.0 million for FY 2013, representing an increase of 47%. The increase reflects the Company’s strategy of building the VersaPay Solutions business.

• Adjusted EBITDA(1) of ($0.8) million in Q4 2014, compared to ($0.1) million in Q4 2013, and ($2.7) million for FY 2014, compared to ($0.7) million for FY 2013, in keeping with the Company’s plans to invest in the VersaPay Solutions business.

• Total comprehensive loss for Q4 2014 was $(0.9) million compared to a loss of $(0.3) million for Q4 2013. Total comprehensive loss for FY 2014 was $(3.5) million compared to $(1.1) million for FY 2013, in keeping with the Company’s plans to invest in the VersaPay Solutions business.

• As at December 31, 2014, the Company had cash on hand of $3.0 million compared to $1.2 million as at December 31, 2013.

2014 Operational Highlights:

• The Beer Store selected VersaPay Gateway to increase payment acceptance from its business customers.

• Teachers Life, a leading insurance provider for teachers throughout Ontario, went live on ARC™.

• Continued to attract new customers to the ARC™ product, including one major customer that will involve tens of thousands of connected parties when fully rolled out.

• Enhanced the Company’s management team and board of directors, with the recruitment of senior executives in software engineering, product design and marketing and the appointment of Art Mesher, former CEO of Descartes Systems, as Chairman of the Board. • Expanded the ARC™ development, sales and support teams.

• Significant new software features were added to ARC™, including improved supplier/buyer collaboration tools, management and presentation of industry-specific documents that support invoices and integrations to different accounting and Enterprise Resource Planning systems.

• Grew total credit card processing volume to $940 million for 2014 compared to $870 million in 2013, representing a record year.

• Opened a new corporate head office and software development center in Toronto to support the growth of ARC™.

Recent ARC™ Highlights:

• ARC™ platform metrics show growing use:

          o Suppliers in production: 7;

          o Counterparties signed up: 1,200;

          o Invoice Volume: 58,000;

          o Transaction Volume: $500,000.

• Nine additional suppliers are currently in the implementation stage or awaiting implementation of the ARC™ platform.

• The Company recently sponsored a Certified Professional Accountants conference and received a very positive response, identifying dozens of highly qualified leads.

• The Company is participating in two U.S. conferences this week in target industries: Media and Trucking/Logistics.

Change in the Accounting Presentation of POS Merchant Services Revenues:

For 2014, the Company voluntarily changed its accounting policy for the presentation and accounting for the POS Merchant Services’ credit card processing revenue stream. The Company’s previous accounting policy was to report this stream of revenue on a gross basis. Under the new accounting policy, this revenue stream is presented on a net basis. As the VersaPay Solutions business grows and, in particular, as ARC™ revenues become a material part of the Company’s revenue mix, consistency across the two lines of business will become 3 more important. Management believes the new accounting policy provides more relevant and no less reliable information to users in assessing the Company’s historical performance and future prospects as it better aligns revenues with the actual flow of cash in its growing Solutions business.

The new accounting policy has been applied retrospectively. This change in accounting policy has no impact on the Company’s reported gross profit, net loss, net loss per share, total comprehensive loss, or Adjusted EBITDA(1). Management believes that the change also better reflects the Company’s margins and is more useful to users in assessing the Company’s historical performance and future prospects.

Had the Company not voluntarily changed its revenue presentation, total revenues would have been $18.7 million in FY 2014 compared to $17.5 million in FY 2013, a 6.8% increase.

Conference Call:

The Company will hold its fourth quarter and year-end conference call on Thursday, April 16, 2015, at 10:00am EDT. A question and answer session will follow the corporate update.

CONFERENCE CALL DETAILS Date:

Thursday, April 16, 2015

Time: 10:00 AM Eastern Time

Participant Dial-in Numbers:

Local – Toronto (+1) 416 764 8609

Toll Free – North America (+1) 888 390 0605

Conference ID: 71339095

Recording Playback Numbers:

Toronto (+1) 416 764 8677

Toll Free – North America (+1) 888 390 0541

Playback Passcode: 339095#

A live audio webcast and archive of the conference call will be available by visiting the Company’s website at www.versapay.com/investors/investor-relations. Please connect at least 15 minutes prior to the conference call to ensure time for any software download that may be needed to hear the webcast.

About VersaPay

VersaPay is a leading cloud-based invoice presentment and payment provider for businesses of all sizes. VersaPay’s ARC™ software-as-a-service offering allows businesses to easily deliver customized electronic invoices to their customers, to accept credit card and EFT payments and automatically reconcile payments to their ERP and accounting software. VersaPay is headquartered in Toronto, Canada and also has operations in Montreal and New York.  More information about VersaPay can be found on the Company’s website at www.versapay.com or under the Company’s profile on SEDAR at www.sedar.com .

For additional information, please contact:

David CW Chan                                                                                           Babak Pedram

Chief Financial Officer                                                                               Investor Relations

VersaPay Corporation                                                                                Virtus Advisory Group Inc.

647-258-9475                                                                                               416-644-5081

david.chan@versapay.com                                                                        bpedram@virtusadvisory.com

Forward Looking and Other Cautionary Statements

This news release contains “forward-looking information” which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. Such forward-looking information is often, but not always, identified by the use of words and phrases such as “plans,” “expects,” “is expected,” “budget,” “scheduled,” “estimates,” “forecasts,” “intends,” “anticipates,” or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved.

These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. Management believes that these assumptions are reasonable. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, risks related to the speculative nature of the Company’s business, the Company’s formative stage of development and the Company’s financial position.

Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

]]>
http://www.versapay.com/versapay-announces-q4-and-fiscal-2014-results/feed/ 0
Technical Sales International (TSI) Chooses VersaPay ARC http://www.versapay.com/technical-sales-international-tsi-chooses-versapay-arc/ http://www.versapay.com/technical-sales-international-tsi-chooses-versapay-arc/#comments Tue, 16 Dec 2014 10:56:27 +0000 http://www.versapay.com/?p=1114 Continue reading Technical Sales International (TSI) Chooses VersaPay ARC ]]> Toronto, ON – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, is pleased to announce that Technical Sales International (TSI) has selected VersaPay’s ARC platform to automate their accounts receivable process. California-based TSI is a leading provider of building information management solutions (BIM) for mechanical, electrical, and plumbing (MEP) contractors and engineers. ARC is VersaPay’s cloud-based e-commerce platform that enables suppliers to publish invoices on-line, collaborate with their customers, and securely accept electronic payments.

Tammy Ford, Chief Financial Officer, TSI stated: “We have been looking for a solution that enables us to provide a more seamless and enhanced transaction experience for our customers, and ARC offers just that. Additionally, the ARC solution allows us to receive payments faster while reducing costs and eliminating manual processes. Best of all, our customers will also benefit from administrative efficiencies and cost savings, while retaining complete control over their payables process. Our customers prefer the new approach because they can resolve questions faster and reduce administrative time required to manage and pay invoices.”

“We are making a concerted effort to expand our ARC business in the U.S.” commented Craig O’Neill, VersaPay’s CEO. “Earning TSI’s business demonstrates that our efforts in the U.S. are paying off, and we plan to announce other U.S. based customer wins in the near future.”

About Technical Sales International (TSI)

TSI provides mechanical, electrical and plumbing (MEP) contractors and engineers around the world with building information management (BIM) technology and professional services. We are dedicated to extending what’s possible with today’s BIM tools and helping our customers become more innovative, more productive and more profitable.

About VersaPay

VersaPay is a leading cloud-based invoice presentment and payment provider for businesses of all sizes. VersaPay’s ARC and ARCPay software-as-a-service offerings allow businesses to easily deliver customized electronic invoices to their customers, to accept credit card and EFT / ACH payments and automatically reconcile payments to their ERP and accounting software.

VersaPay is headquartered in Toronto, Canada, and has operations in Montreal and New York.

For additional information about this news release, please contact:

John McLeod, Vice President, Marketing, VersaPay Corporation

Telephone: (647) 258-9406 Email: john.mcleod@versapay.com OR

David C.W. Chan, Chief Financial Officer, VersaPay Corporation

Telephone: (647) 258-9475 Email: david.chan@versapay.com

More information about VersaPay can be found at www.versapay.com.

Forward Looking and Other Cautionary Statements.

This news release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this news release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology, are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks relating to the speculative nature of the Company’s business, the Company’s formative stage of development and the Company’s financial position.

Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward looking statements if these beliefs, estimates and opinions or other circumstances should change.

Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

]]>
http://www.versapay.com/technical-sales-international-tsi-chooses-versapay-arc/feed/ 0