TORONTO, Jan. 10, 2017 /CNW/ - 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 the previously announced sale of its Merchant Services portfolio to BluePay Canada, ULC ("BluePay") (the "Transaction") has been approved by the holders of common shares of VersaPay ("Shareholders"). Shareholders approved the Transaction at the Special Meeting of Shareholders on January 10, 2017, with 99.53% voting in favour, well surpassing the 66.67% necessary to approve the Transaction. The Company has also received conditional approval from the TSX Venture Exchange for the Transaction. "We would like to thank our shareholders for their support in backing the company's strategy to pursue the extensive market opportunity for A/R automation," commented Craig O'Neill, CEO of VersaPay. "The sale of our Merchant Services business gives us the focus and funding required to realize the potential of the A/R automation opportunity and we are very pleased that VersaPay shareholders are aligned with this plan." Additional information regarding the terms of the Transaction are set out in VersaPay's management information circular dated December 9, 2016, which is available under VersaPay's profile on SEDAR at www.sedar.com.
About VersaPayVersaPay 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:
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