VENDTEK SYSTEMS : ANNOUNCES FISCAL 2015 FINANCIAL RESULTS

VANCOUVER - September 29, 2015 - VendTek Systems Inc. (VSI - TSX Venture) (the 'Company'), a developer and licensor of software for the global prepaid telecom and financial services markets, today reported its financial results for its first quarter of fiscal 2015 ended July 31, 2015 ('Q3 2015').

Selected Financial Information

• • Revenue for the quarter ended July 31, 2015 increased $86,269 to $391,039, or 28.3% from $304,770 in the prior fiscal quarter of Q3 2014;
• • Operating expenses were $813,787 compared to $1,015,982 in the prior fiscal quarter.
• • Adjusted EBITDA loss was $399,935 for Q3 2015 compared to a loss of $675,114 for the prior year;
• • Net loss from continuing operations was $544,712 compared to $762,821 in the prior fiscal quarter;
• • Cash used in operations was $375,286 for Q3 2015, compared to $611,249 cash used in operations in the prior fiscal year;
• • Cash and cash equivalents was $134,089 at July 31, 2015 compared to $291,366 at October 31, 2014.

'Since earlier this year, our Company has refocused its business to solely operate as a software provider, having eFresh™ as its core product. While this decision was inevitable due to the company's inability to raise sufficient funds in order to support the growth its distribution network, it was also supported by our strong belief that our eFresh™ technology can, with the adequate sales team and structure, generate significant value to our shareholders' says Felipe Ayres, VendTek's Chief Executive Officer.

These consolidated financial statements have been prepared on the going concern basis, which assumes that the Company will be able to realize its assets and discharge its liabilities in the normal course of business. For the quarter ended July 31, 2015 the Company has incurred a net loss from continuing operations of $544,712 and negative cash flows of $375,286 from operating activities. The Company also has a working capital deficiency of $3,264,121 and a shareholders' deficiency of $4,024,393 as at July 31, 2015.

These conditions raise significant doubt about the ability of the Company to continue as a going concern without additional financing or renegotiate the terms of existing financing. In addition to the funds raised subsequent to quarter end, Management is pursuing several sources of additional financing (both debt and equity) and is of the opinion that sufficient working capital will be obtained from: external financing, renegotiation of existing financing; and improved operations to meet the Company's liabilities and commitments as they become due, although there is significant risk that this may not happen on a timely basis or on terms acceptable to the Company.

These consolidated financial statements do not give effect to any adjustments which would be necessary should the Company be unable to continue as a going concern and therefore be required to realize its assets and discharge its liabilities in other than the normal course of business and at amounts different from those reflected in the accompanying consolidated financial statements.

Subsequent to quarter end, on September 2, 2015, the Company closed its previously announced non-brokered private placement of $1,000,000 in secured convertible debentures.

The debentures bear interest at a rate of 12% per annum and mature on September 2, 2018. These debentures are convertible into common shares of the Company any time until maturity at a price of $0.10 per common share on conversion. The net proceeds from the Offering will be used for general corporate purposes, including working capital.

The Private Placement may be considered a related party transaction pursuant to applicable securities laws due to the fact that certain insiders of the Company will be participating in the Offering.

VendTek's MD&A and complete financial statements and notes are available at www.sedar.com and the Company's website www.vendteksystems.com.

About VendTek

VendTek develops and licenses automated transaction system software and supporting technologies. VendTek's customers, subsidiaries and its Now Prepay division use e-Fresh™ software to build electronic, prepaid services networks that enable consumers to purchase prepaid products and services via POS and self-serve terminals connected to a central server. This system creates significant value through improved efficiencies compared to a traditional distribution model. e-Fresh™ reduces shrinkage and inventory requirements for vendors while improving consumer access to prepaid products and services by completely eliminating physical cards and vouchers. VendTek has deployed its software around the world including Canada, United States, Asia, the Middle East and Africa. For further information please visit the Company's websites www.vendteksystems.com and www.nowprepay.com.

Forward Looking Information

This news release contains statements which are not current statements or historical facts and are 'forward-looking information' within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, contained in this news release constitute forward-looking information. Wherever possible, words such as 'plans', 'expects' or 'does not expect', 'budget', 'forecasts', 'projections', 'anticipate' or 'does not anticipate', 'believe', 'intent', 'potential', 'strategy', 'schedule', 'estimates' and similar expressions or statements that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved and other similar expressions have been used to identify forward-looking information. These forward-looking statements relate to, among other things, the Company's expectations regarding the use of proceeds from the Private Placement.

Although the forward-looking information in this news release reflects the Company's current beliefs on the date of this news release based upon information currently available to management and based upon what management believes to be reasonable assumptions, the Company cannot be certain that actual results, performance, achievements, prospects and opportunities, either expressed or implied, will be consistent with such forward-looking information. By its very nature, forward-looking information necessarily involves significant known and unknown risks, assumptions, uncertainties and contingencies that may cause the Company's actual results, assumptions, performance, achievements, prospects and opportunities in future periods to differ materially from those expressed or implied by such forward-looking information. These risks and uncertainties include, among other things, revenue growth, operating results, the market demand for the Company's products, product development, and litigation as well other factors described in the Risks Related to our Business Section in the Company's Q3 2014 Management Discussion and Analysis. There may be other factors that cause results, assumptions, performance, achievements, prospects or opportunities in future periods not to be as anticipated, estimated or intended.

There can be no assurances that forward-looking information and statements will prove to be accurate, as many factors and future events, both known and unknown could cause actual results, performance or achievements to vary or differ materially, from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements contained in this news release. Accordingly, all such factors should be considered carefully when making decisions with respect to the Company, and prospective investors should not place undue reliance on forward-looking information. The Company assumes no obligation to update or revise forward-looking information to reflect changes in assumptions, changes in circumstances or any other events affecting such forward-looking information, except as required by applicable law.

For more information please contact Samantha White at 604-805-4653 or 1-800-806-4958 or

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