VersaPay Receives Shareholder Approval for Sale of Merchant Services Business

VersaPay Corporation (TSXV:VPY), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, is pleased to announce that the previously announced sale of its Merchant Services portfolio to BluePay Canada, ULC has been approved by the holders of common shares of VersaPay. Shareholders approved the Transaction at the Special Meeting of Shareholders on January 10, 2017, with 99.53 percent voting in favour, well surpassing the 66.67 percent necessary for approval.
As quoted in the press release:

The Company has also received conditional approval from the TSX Venture Exchange for the Transaction.
“We would like to thank our shareholders for their support in backing the company’s strategy to pursue the extensive market opportunity for A/R automation,” commented Craig O’Neill, CEO of VersaPay. “The sale of our Merchant Services business gives us the focus and funding required to realize the potential of the A/R automation opportunity and we are very pleased that VersaPay shareholders are aligned with this plan.”

Click here for the full text release.