VersaPay Announces Change of Chief Financial Officer

TORONTO, Feb. 26, 2016 /CNW/ - VersaPay Corporation (TSXV: VPY) ("VersaPay" or the "Company"), today announced that David Chan, the Company's Chief Financial Officer, is no longer with the Company. Necessary measures have been put in place to locate a suitable candidate to fill the position on a permanent basis.

Craig O'Neill, President and Chief Executive Officer of the Company, said "On behalf of the Company, I want to thank David for his work and wish him success in his future endeavours."

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.

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.

SOURCE VersaPay Corporation

Craig O'Neill, Chief Executive Officer, VersaPay Corporation, 647-258-9378, [email protected]; Babak Pedram, Investor Relations, Virtus Advisory Group Inc., 416-644-5081, [email protected]