July 27, 2012 – TORONTO, ONTARIO – As previously disclosed in a press release dated July 11, 2012, Whiteknight Acquisitions Inc. (the “Company”) (TSX VENTURE:SEB) closed its Qualifying Transaction (“QT”) on July 11, 2012 (as such term is defined in Policy 2.4 of the Corporate Finance Manual of the TSX Venture Exchange) involving the exchange of all of the issued and outstanding securities of Smart Employee Solutions Inc. (“SES”). As a result, SES became a wholly-owned subsidiary of the Company. The Company will operate as a public holding company structure with all operating activities in subsidiary companies. The primary assets of the Company will be the shares of the subsidiary companies.
The Company (Whiteknight Acquisitions Inc.) will be changing its name to Smart Employee Benefits Inc. on receiving approval at its shareholder meeting on July 30, 2012.
By virtue of the QT, the Officers of SES became Officers of the Company and certain of the Directors of SES became Directors of the Company. In this regard, Scott Studley and John Cochrane, both Executive Vice Presidents of SES, became Executive Vice Presidents of the Company. Effective immediately, both have resigned as Executive Vice Presidents of the Company. Both individuals are significant shareholders of the Company and will continue to be active at the subsidiary operating level.
Over the next while, it is the intention of the Company to make further amendments to its corporate structure, including Director and Officer realignments, to create a more efficient and effective operating structure as a public company.
Cautionary Note Regarding Forward Looking Statements
This Press Release contains forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this Press Release. Such forward-looking statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to: the results of the Company’s Annual General and Special Meeting, the economy generally; consumer interest in the services and products of the resulting issuer; competition; and anticipated and unanticipated costs. While the Company acknowledges that subsequent events and developments may cause its views to change, the Company may specifically disclaim any obligation to update these forward-looking statements. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of this Press Release. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.