VersaPay Announces Change of Auditor

TORONTO, Jan. 16, 2018 /CNW/ - VersaPay Corporation (TSXV: VPY) ("VersaPay" or the "Company"), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, announces that, following completion of a tender process, it has changed its auditors from Grant Thornton LLP to KPMG LLP effective December 7, 2017.

At the request of the Company, Grant Thornton LLP resigned as auditors of the Company effective December 7, 2017. The board of directors of the Company appointed KPMG LLP as the Company's auditor effective December 7, 2017, until the next annual general meeting of shareholders of the Company.

"Following a thorough selection process, we have concluded that KPMG LLP's portfolio of services provides an ideal match for satisfying VersaPay's current and future needs," said Harp Gahunia, CFO of the Company.  "The board extends our thanks to Grant Thornton LLP for the quality of expertise they have provided Verspay over the years."

In accordance with National Instrument 51-102 – Continuous Disclosure Obligations, the notice of change of auditor, together with the required letters from the former auditor and the successor auditor, have been reviewed by the audit committee and the board of directors of the Company and have been filed on SEDAR.

About VersaPay

VersaPay is a Fintech company and leading provider of cloud-based invoice-to-cash solutions, enabling businesses to provide a superior customer experience, get paid faster, streamline financial operations, and dramatically reduce DSO and costs. VersaPay ARC is the new standard in accounts receivable and collections management with a customer self-service environment to view invoices online, collaborate on inquiries and disputes, and facilitate secure online payments (ETF/ACH and credit card). Businesses gain access to a suite of powerful tools that enable efficient collections, cash application and real-time insight into accounts receivable. VersaPay ARC automatically reconciles payments and account information through integrations with a wide range of ERPs and accounting software providers.

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