TORONTO, May 29, 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 the election of its board of
directors from its Annual General and Special Meeting of
Shareholders, held on May 26,
2017.
Shareholders elected Art Mesher
(Chairman), Eleanor Chiu,
Timothy Stanley, Mark Kohler, Sheldon
Pollack and Craig O'Neill
(CEO).
Mark Kohler has served as an
advisor or a Board member for some of Canada's leading public and private company
Boards, and is respected for his strategic and governance
expertise, particularly with growth, and acquisition oriented
technology enterprises. He is currently the Chairman and CEO of
Exelerate Capital (Toronto), a
strategic and capital advisory firm that provides corporate
finance, M&A, IT strategy and governance/risk/compliance
services to healthcare, technology, and financial services,
organizations, and private equity funds in North America. He is a CPA, CA, and Certified
Director, having obtained his ICD.D designation from the Institute
of Corporate Directors and the Rotman School of Management at the
University of Toronto.
Sheldon Pollack has served as
Chief Executive Officer and Vice-Chairman of OnX Enterprise
Solutions Ltd since 1983, which he also co-founded. He has been an
active investor, Board member and advisor to a number of early
stage technology based organizations. He was highlighted as one of
Canada's Top Entrepreneurs in
Alan Gould's book 'The New
Entrepreneurs'. In 2000, he was named as a finalist for the
Canadian Entrepreneur of the Year awarded by Ernst & Young. Mr.
Pollack attended the University of Western
Ontario.
Wendy Porter, The Honourable
David Peterson and Brian Kyle have
decided to retire from the Board. "On behalf of the Board of
Directors and everyone at VersaPay, I want to sincerely thank
Wendy, David and Brian for all of their efforts on behalf of the
Company and wish them well in their future endeavors," stated
Craig O'Neill.
Officers
The Company also announces the re-appointment of its current
senior officer team, consisting of:
Craig
O'Neill
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Chief Executive
Officer
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Harp
Gahunia
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Chief Financial
Officer
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Matthew
Roby
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Chief Technology
Officer
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Geoff
Coutts
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Vice President,
Sales
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John
McLeod
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Vice President,
Marketing
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Committees
The Board of Directors reappointed its Audit Committee for the
coming year, consisting of Mark
Kohler (Chair), Eleanor Chiu
and Sheldon Pollack.
The Company also reappointed its Corporate Governance,
Compensation and Nominating Committee for the coming year,
consisting of Sheldon Pollack
(Chair), Mark Kohler and
Timothy Stanley.
Options
The Company also announces the grant of incentive stock options
to directors of the Company to purchase up to 225,000 common shares
in the capital stock of the Company under its share option
plan. The options are exercisable at a price of $1.39 per share on or before May 26, 2022, subject to the approval of the TSX
Venture Exchange and applicable hold and Company vesting
periods.
About VersaPay
VersaPay is a leading cloud-based invoice presentment and
payment provider for businesses of all size. 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.
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.
Forward Looking and Other Cautionary Statements
This news release contains "forward-looking information" which
may include, but is not limited to, statements with respect to the
activities, events or developments that the Company expects or
anticipates will or may occur in the future and information
concerning the completion of the Transaction. Such forward-looking
information is often, but not always, identified by the use of
words and phrases such as "plans," "expects," "is expected,"
"budget," "scheduled," "estimates," "forecasts," "intends,"
"anticipates," or "believes" or variations (including negative
variations) of such words and phrases, or state that certain
actions, events or results "may," "could," "would," "might" or
"will" be taken, occur or be achieved.
These forward-looking statements, and any assumptions upon which
they are based, are made in good faith and reflect the Company's
current judgment regarding the direction of the business.
Management believes that these assumptions are reasonable.
Forward-looking information involves known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking information. Although
the Company believes that the expectations reflected in such
forward-looking information are reasonable, such information
involves risks and uncertainties, and undue reliance should not be
placed on such information, as unknown or unpredictable factors
could have material adverse effects on future results, performance
or achievements of the Company.
Among those factors which could cause actual results to differ
materially are the following: uncertainties as to the timing of the
Transaction and satisfaction of the conditions thereto, market
conditions and other risk factors listed from time to time in the
Company's reports filed with Canadian securities regulators and
available under the Company's profile on SEDAR at www.sedar.com.
The forward-looking statements included in this press release are
made as of the date of this press release and the Company disclaims
any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as expressly required by applicable securities
legislation.
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