January 2, 2013 – TORONTO, ON – Smart Employee Benefits Inc. (“SEB”) (TSX VENTURE:SEB), is pleased to announce it intends to complete an equity private placement of up to $1,050,000 of units; at a purchase price of $0.35 per unit, with each unit consisting of 1 common share of SEB and 1 common share purchase warrant of SEB (the “Share Purchase Warrant”). Each Share Purchase Warrant shall be exercisable at any time for a period of 12 months from the date of closing at an exercise price of $0.40 for 1 common share of SEB. The financing is a non brokered financing of which SEB expects a significant portion will be received from private investors and strategic business partners. All securities issued in connection with the private placement are subject to a four month hold period from the date of closing.
Proceeds from the private placement will be used for acquisitions and working capital requirements. The private placement is subject to regulatory approval. SEB has previously filed for price reservation of this financing with the TSX Venture Exchange on December 28, 2012.