VendTek Announces Closing of $2 Million Private Placement

VendTek Systems Inc. (TSX VENTURE:VSI) ("VendTek" or the "Company") is pleased
to announce that it has completed its previously announced sale of 3,333,333
units (the "Units"), on a private placement basis, to Privinvest Offshore SAL
(Holding) ("Privinvest Offshore") at the purchase price of $0.60 per Unit to
raise gross proceeds of $2,000,000 (the "Private Placement"). Each Unit consists
of one common share in the capital of the Company (a "Common Share") and
one-half Common Share purchase warrant (a "Warrant"). Each full Warrant is
exercisable for three years from the closing of the Private Placement to acquire
one Common Share at a price of $0.75 per Common Share. For additional
information about the Private Placement and Privinvest Offshore, please see the
Company's September 12, 2011 and October 5, 2011 press releases.


The Private Placement is subject to regulatory approval and all securities
issued in connection with the Private Placement are subject to a four-month and
one day hold period under applicable securities laws.


The net proceeds from the Private Placement will be used for general working
capital purposes, to continue the Company's expansion plans for its Brazilian
operations, and to advance its technology platform for mobile financial
transactions.


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(TM) 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(TM) 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 2011 annual 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.