February 11, 2014 - TORONTO, ONTARIO - Smart Employee Benefits Inc. (“SEB”) (TSX VENTURE:SEB), is a technology company providing “business processes software solutions and services” to corporate and government clients with specialty practices focused on “managing group benefit solutions and health claims processing environments.” SEB is pleased to announce that it has retained First Canadian Capital Corp. (“First Canadian“) as a consultant to provide consulting and investor relations services.
First Canadian will introduce SEB to private investors, analysts, brokers, money managers and other financial professionals, and will generate market awareness for the projects, business and affairs of SEB.
Under the terms of the consulting agreement with First Canadian (the “Agreement“), SEB will pay First Canadian $6,000 per month for a twelve month initial term (with a right of termination by either party after six months) and grant 400,000 stock options at an exercise price of $0.60 per share, with vesting in accordance with the Agreement, the TSX Venture Exchange (the “TSXV“) policies and SEB’s stock option plan. The stock options will expire and terminate upon the earlier of: (i) 24 months from the date of the execution of the Agreement; and (ii) 30 days after First Canadian ceases to provide any and all services set forth in the Agreement. The Agreement and related stock option issuance remain subject to the approval of the TSXV. First Canadian is arm’s length to SEB and currently does not own any securities of SEB.
Daniel Boase, Partner at First Canadian Capital commented: “SEB management and its Board of Directors have a solid track record of building and operating successful companies, particularly in the technology, benefits and insurance industries. As a strong testament to their belief in this game changing technology, SEB Insiders have made a significant financial commitment, owning over 65% of the issued equity and having provided more than half of the financing to date. SEB’s offering could prove invaluable in the sector as the health benefits industry is in great need of evaluating its back office, administration and technology systems. First Canadian is pleased to have the opportunity to work with such a unique and innovative company in the recession resistant, healthcare industry.”
ABOUT FIRST CANADIAN: Based in Toronto, First Canadian has been in the investor relations business for seventeen years. They have assisted numerous, small-cap and mid-tier corporations in gaining exposure and recognition within the global investment community. First Canadian’s core competencies are found in identifying quality assets and undervalued companies with high growth potential and providing effective investor relations and market awareness services to these companies.
ABOUT SEB: SEB is a technology company providing software, solutions and services specializing in managing group benefit solutions and healthcare claims processing environments for corporate and government clients. Health Claims Processing alone is a $60.0 billion industry, of which over $35.0 billion is employee group benefit plans and over $25.0 billion of other healthcare benefit claims (e.g. workers’ compensation claims, travel benefits, various federal and provincial government programs, dental associations, drug associations, etc.). In the employee group benefits industry, SEB operates as a Third Party Administrator and Insurance Brokerage utilizing its software platform to provide “totally hosted PCI compliant supply chain solutions” for managing the complete group benefits business processes between insurers, clients, brokers, consultants, technology service providers and healthcare service providers. In healthcare claims processing, SEB also operates as a systems integrator utilizing its technology platform together with other technologies to provide customized, fully integrated solutions for specialized environments (e.g. travel claims, student benefits, hospitals, unique government applications etc.). The technology and expertise deployed in this area also allows SEB to provide other related supply chain, systems integration and human resource solutions and services to the same clients.
For further information about SEB, please visit www.seb-inc.com.
FORWARD-LOOKING STATEMENTS: Except for statements of historical fact contained herein, the information in this press release may constitute “forward-looking information” within the meaning of Canadian securities law. All statements which are “forward-looking statements”, involve various known and unknown risk and uncertainties and other factors, including market conditions that may affect SEB’s ability to execute its current business plan. Actual results may differ materially from results suggested in any forward-looking statements. SEB assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to SEB. Additional information identifying risks and uncertainties is contained in filings by SEB with the Canadian securities regulators, which filings are available at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.