Toronto, ON – February 9, 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 Hadrian Manufacturing Inc. has signed an agreement with VersaPay to automate their accounts receivable process using the VersaPay ARCTM platform. “As with any manufacturing business we are in a competitive space. Moving to the VersaPay AR solution enables us to become even more competitive as it allows us to be more efficient in day-to-day operations,” noted Rob Snyder, VP, Finance at Hadrian. “One of the other key outcomes we are excited about is that the VersaPay solution enables us to enhance our customer experience. We are constantly on the lookout for better ways to serve our customers and upon seeing this new approach to accounts receivable we immediately wanted to adopt it.” “The manufacturing sector is showing great interest in the ARC solution as evidenced by the many manufacturing firms we are in discussions with,” observed Craig O’Neill VersaPay’s CEO. “Our solution is ideally suited to a number of the challenges they are facing and we are gaining some excellent ground as a result.” About Hadrian Manufacturing Inc. Hadrian Manufacturing Inc. is a worldwide supplier of quality toilet partition and locker products. Hadrian was the first manufacturer to powder coat toilet partitions and has continued to embrace new technologies and materials in order to offer architects, designers and end-users more flexibility in design. Hadrian’s wide range of toilet partition products includes; powder coated metal, stainless steel, embossed stainless steel, and solid plastic. Lockers are available in Emperor (corridor), Gladiator (athletic) and replacement front styles. 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. 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 [email protected]||John McLeod Vice President, Marketing VersaPay Corporation 647-258-9406 [email protected]||Babak Pedram Investor Relations Virtus Advisory Group Inc. 416-644-5081 [email protected]|
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.