Leading Independent Advisory Firm ISS Recommends Shareholders of VersaPay Vote For The Proposed Arrangement With An Affiliate of Great Hill Partners

VersaPay Corporation (TSXV: VPY) (the “Company” or “VersaPay”), is pleased to announce that Institutional Shareholder Services Inc. (“ISS“), one of the leading independent proxy advisory firms that provides voting recommendations to institutional investors, has recommended that shareholders of VersaPay (the “Shareholders“) vote FOR the proposed acquisition by 1233518 B.C. Ltd., an affiliate of Great Hill Partners, of all of the issued and outstanding common shares of the Company (“VersaPay Shares“) by way of a statutory plan of arrangement under the Canada Business Corporations Act (the “Arrangement“).

ISS has recommended that Shareholders vote FOR the Arrangement resolution stating: “The transaction will allow shareholders to cash out of their investment at a significant premium to the unaffected share price, with the cash consideration providing certainty of value during a challenging period under which increased access to capital has become necessary for the Company. Given the favourable market reaction and steps taken to mitigate certain minor governance concerns, shareholder approval of this resolution is warranted.”

Your vote is important regardless of the number of VersaPay Shares you own. As a Shareholder, it is very important that you carefully read the management information circular dated January 15, 2020 and related materials with respect to the special meeting of Shareholders (the “Meeting“) and then vote your VersaPay Shares. You are eligible to vote your VersaPay Shares if you were a Shareholder of record at the close of business on January 8, 2020.

HOW TO VOTE

Shareholders are encouraged to vote today using the internet or telephone.

Registered Shareholders may vote by:

• Internet: www.investorvote.com
• Telephone: 1-866-732-8683

Non-registered Shareholders may vote by:
Shareholders who hold VersaPay Shares through a bank, broker or other intermediary will have different voting instructions and should carefully follow the voting instructions provided to them. In most cases, non-registered Shareholders will receive a voting instruction form as part of the meeting materials. A non-registered Shareholder can complete the voting instruction form by: (i) calling the phone number listed thereon, or (ii)through the Internet at www.proxyvote.com.

YOUR VOTE IS IMPORTANT – PLEASE VOTE TODAY

VERSAPAY MEETING

The Meeting will be held on Friday, February 14, 2020 at 10:00 a.m. (Toronto Time), at the offices of Cassels Brock & Blackwell LLP, Suite 2100, Scotia Plaza, 40 King Street West, Toronto, Ontario.

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