TORONTO, April 9, 2015 /CNW/ - VersaPay Corporation (TSXV: VPY) ("VersaPay" or the "Company"), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, today announced that it has retained Virtus Advisory Group Inc. ("Virtus"), to develop and implement a strategic investor relations program, which includes enhancing the Company's exposure among industry stakeholders and investors across Canada.
In connection with the engagement (the "Agreement"), Virtus has been awarded a consulting contract for a monthly fee of $5,000. In addition, Virtus has also been granted incentive stock options ("Options") to acquire 100,000 common shares of the Company, exercisable at a price of $1.41 per share until April 9, 2020, subject to the approval of the TSX Venture Exchange. The Options will vest in 12 months.
The Company's engagement of Virtus is subject to the acceptance of the TSX Venture Exchange.
VersaPay is a leading cloud-based invoice presentment and payment provider for businesses of all sizes. VersaPay's ARC™ and ARCPay™ software-as-a-service offerings allow 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 has operations in Montreal and New York.
About Virtus Advisory Group:
Virtus is a Toronto-based consulting firm, providing select private and publicly listed companies with business consulting, capital markets strategy and investor relations services. The Company provides expert counsel and access to an unmatched network of investors and capital markets professionals across Canada. Virtus helps issuers establish the relationships and the investor confidence required to build long-term shareholder value. Visit www.virtusadvisory.com for more 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.
SOURCE VersaPay Corporation
For further information: David CW Chan, Chief Financial Officer, VersaPay Corporation, 647-258-9475, [email protected]; Babak Pedram, Investor Relations, Virtus Advisory Group Inc., 416-644-5081, [email protected]