VersaPay Corporation

12:00 PM EST - VersaPay Corporation : And Great Hill Partners have entered into a definitive arrangement agreement whereby Great Hill will indirectly acquire all of the issued and outstanding common shares of VersaPay Under the terms of the Arrangement Agreement, each VersaPay shareholder will receive cash consideration of $2.70 for each VersaPay Share held, valuing VersaPay's total equity at approximately $126 million on a fully diluted basis. The Consideration represents a 47.5% premium to the closing price of the VersaPay Shares on the TSX Venture Exchange on December 12, and a 64.5% premium to the volume weighted average price of the VersaPay Shares over the last 30 trading days. VersaPay Corporation
shares V.VPY are trading up $0.82 at $2.65.