TAGUIG, METRO MANILA, Philippines, April 6 /PRNewswire-FirstCall/ -- VerifySmart Inc. (VSMR:OTCBB): VerifySmart, a global leader in secure and fraud free payment processing services announces today that it proposes to enter into a non-brokered private placement of up to 4,000,000 restricted shares of common stock ("Shares") of the Company at a subscription price of $1.25 per Share, for gross proceeds of up to $5,000,000 (the "Offering"). The proceeds raised in this Offering will be used for general expenditures related to supporting the company's aggressive growth plan. These expenditures include but are not limited to, the acquisition and build out of infrastructure, application development efforts and marketing initiatives. The proposed issuance of the Shares is subject to the completion of formal documentation and the receipt of all required approvals. The Shares to be offered in the private placement to accredited investors will not be registered under the Securities Act of 1933 as amended (the "Act"), and may not be offered or sold in the United States absent registration, or an applicable exemption from registration, under the Act. About VerifySmart Corp VerifySmart Corp. is a SEC issuer with its shares of common stock quoted for trading on the "OTCBB". The company's mandate is to market, sell and manage fraud prevention products and services as an exclusive licensee. An international company, the patent-pending technology licensed by VerifySmart is garnering worldwide attention and rapidly gaining acceptance across a security challenged industry. Forward Looking Statements This current report contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this current report which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future including but not limited to the closing of the Offering or the amount of proceeds that may be raised under the Offering. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainty of financial estimates and projections, the competitive and regulatory environment for start up software companies, stock market conditions, unforeseen technical difficulties and our ongoing ability to operate a business and obtain financing. These forward-looking statements are made as of the date of this current report, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that our beliefs, plans, expectations and intentions contained in this current report are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the 2008 fiscal year, our quarterly reports on Form 10-Q and our other periodic reports filed from time-to-time with the Securities and Exchange Commission pursuant to the Securities Exchange Act. DATASOURCE: VerifySmart Corp. CONTACT: Corporate Headquarters, Fort Legend Towers, Suite 2002 - 3rd Avenue corner 31st Street, E-Square, Fort Bonifacio Global City, Taguig, Metro Manila, Philippines; Investor Relations, Danny Gravelle, Goal Capital LLC, (949) 481-5396; Questions or Feedback, , http://www.verifysmart.com/

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