VersaPay Announces Change of Chief Financial Officer

TORONTO, Feb. 29, 2016 /CNW/ - VersaPay Corporation (TSXV: VPY) ("VersaPay" or the "Company"), today announced that it has hired Harp Gahunia of BrightIron Consulting Corp. as interim Chief Financial Officer and has initiated the process to fill the position on a permanent basis.

Craig O'Neill, Chief Executive Officer of the Company, said "We are delighted to have a finance leader of Harp's caliber joining our team.  As an experienced CFO of growing technology companies he brings a mix of skills and know-how to the company that are very timely for our stage of growth."

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, craig.oneill @versapay.com; Babak Pedram, Investor Relations, Virtus Advisory Group Inc., 416-644-5081, [email protected]