VersaPay Corporation Announces Closing of Bought-Deal Financing and Full Exercise of Over-Allotment Option

May, 13, 2016

Toronto, Ontario – May 13, 2016 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), is pleased to announce that it has closed its previously announced short form prospectus offering (the “Offering”) of 4,600,000 common shares of the Company (the “Common Shares”) at a price of $1.00 per share (the “Issue Price”), which includes 600,000 Common Shares issued pursuant to the exercise of the over-allotment option in full, for gross proceeds of $4,600,000. The Offering was underwritten by a syndicate of underwriters led by Haywood Securities Inc. and includes Cormark Securities Inc. and PI Financial Corp. (collectively, the “Underwriters”). In consideration for their services, the Underwriters received a cash commission equal to 7.0% of the gross proceeds of the...

VersaPay Making Headlines in Times Square

April, 30, 2016

Our recent press release is making headlines in Times Square! NEWSCYCLE Solutions is now live on our cloud-based AR automation solution and the recent announcement is big news in the Big Apple. Read more here.   

VersaPay Announces Q4 and Fiscal Year 2015 Financial Results

April, 26, 2016

Toronto, ON – April 26, 2016 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, today announced fourth quarter (Q4) financial results for the three and twelve-month periods ended December 31, 2015. “We are very pleased with how 2015 wrapped up for the Company,” said Craig O’Neill, CEO of VersaPay. “After a slower than expected start to the year in our POS Merchant Services business, we have been able to regain ground in the second half of the year, and particularly in Q4. What’s more, for the first time in the Company’s history the Solutions business accounted for more than 20% of our overall revenues in Q4, growing to 16% of overall revenues for...

VersaPay Announces Q4 and Full Year 2015 Financial Results Conference Call

April, 26, 2016

Toronto, ON – April 14, 2016 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), will release its fourth quarter and full year results for 2015 on Tuesday, April 26, 2016 after market close. The Company will subsequently hold a conference call on Wednesday, April 27, 2016 at 9:00 AM Eastern Time hosted by Craig O’Neill, Chief Executive Officer, and Harp Gahunia, Chief Financial Officer. A question and answer session will follow the corporate update. CONFERENCE CALL DETAILS Date: Wednesday, April 27, 2016 Time: 9:00 AM Eastern Time Participant Dial-in Numbers: Local – Toronto (+1) 416 764 8609 Toll Free – North America (+1) 888 390 0605 Conference ID: 83710417 Recording Playback Numbers: Toronto (+1) 416 764 8677 Toll Free – North America (+1)...

VersaPay Corporation Announces $4 Million Bought-Deal Financing

April, 18, 2016

TORONTO, ONTARIO, April 18, 2016 — VersaPay Corporation (TSX VENTURE:VPY) (“VersaPay” or the “Company”) is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by Haywood Securities Inc. (collectively, the “Underwriters”), pursuant to which the Underwriters have agreed to purchase, on a bought deal basis pursuant to the filing of a short form prospectus, 4,000,000 common shares (the “Common Shares”) of the Company at a price of $1.00 per Common Share (the “Offering Price”) for aggregate gross proceeds of $4,000,000 (the “Offering”). The Company has granted the Underwriters an option (the “Over-Allotment Option”) to purchase up to an additional 600,000 Common Shares at the Offering Price, exercisable in whole or in part, at...

NEWSCYCLE Goes Live on VersaPay’s AR Automation Solution

April, 13, 2016

MINNEAPOLIS and TORONTO, April 18, 2016 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, today announced that NEWSCYCLE Solutions is now live on VersaPay ARCTM, the company’s AR automation solution. “In forming NEWSCYCLE Solutions from the predecessor companies we made a commitment to continuously work to change the game, and be the leader for the global news media industry. To help achieve that status we have selected VersaPay as our invoicing and AR automation provider,” noted Lynn Danko, CFO, NEWSCYCLE. “With this new solution we can effectively manage all aspects of invoicing, accounts receivable and payments in a PCI compliant environment, provide automatic notifications and reminders, and...

VersaPay Selected by The Erb Group of Companies to Provide Accounts Receivable Automation Solution

April, 6, 2016

San Antonio, TX ; Toronto, ON – April 6, 2016 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, today announced its newest customer, The Erb Group of Companies (Erb). Erb, which provides trucking and distribution services throughout Canada and the US, selected VersaPay to support its rapidly growing business and its commitment to maintaining a leadership position. “The growth we have enjoyed as a company stems from our commitment to continually search for new and better ways of doing things, coupled with our relentless focus on providing a great customer experience,” stated Irene Holdbrook, VP of Finance at Erb. “We are in a highly competitive market with thin margins so implementing process enhancements such...

VersaPay Reaches New Milestones With Invoicing and Accounts Receivable Automation Platform

April, 4, 2016

Toronto, ON – April 4, 2016 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, today announced the latest milestones the Company has achieved with ARCTM, its accounts receivable automation platform. VersaPay now has 43 suppliers signed, including 33 that are currently live with 17,700 of their end-customers using the platform. This represents growth of 51% in the number of end-users in the past 3 months. Invoices received by customers have almost doubled over the period, to 396,000, and payments are up just over 2 times, to $23.1 million. The latest metrics reflect VersaPay’s continued focus on a number of target markets including the media industry. Most...

VersaPay Signs Partnership Agreement With Katipult To Bring Secure Investment Crowdfunding Software To The Canadian Market

March, 30, 2016

Toronto, ON – March 30, 2016 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), a leading provider of cloud-based payment and accounts receivable management solutions, today announced that it has signed a partnership agreement with Katipult Software to bring a disruptive Crowdfunding solution for investment firms to the Canadian market. VersaPay’s gateway technology enables Katipult to provide clients using its crowdfunding software product with an integrated secure payment capability. Katipult is thrilled to offer VersaPay as a payment solution and further bolster its leading software product. “This is a game changing relationship for the Canadian investment community,” said Brock Murray, CEO of Katipult. “We’re bringing a product to the Canadian market that benefits everyone from investors to issuers...