Press Releases

2023

Smart Employee Benefits Inc. Files Management Information Circular for Special Meeting of Shareholders

INFORMATION CONFERENCE CALL ON FRIDAY JANUARY 27 AT 3:30 PM

 January 25, 2023 – Mississauga, ON

Smart Employee Benefits Inc. (TSXV: SEB) (OTCQB: SEBFF) (“SEB” or the “Company”) announced today that it has filed and is in the process of mailing the management information circular (the “Circular”) and related materials (collectively, the “Meeting Materials”) for the special meeting (the “Meeting”) of the Company’s shareholders (the “Shareholders”) to be held in connection with the previously announced proposed plan of arrangement pursuant to which Co-operators Financial Services Limited (“Co-operators”) will, indirectly through its wholly-owned subsidiary 1000391399 Ontario Inc., acquire all of the issued and outstanding common shares of SEB (the “SEB Shares”) for $0.30 in cash per SEB Share by way of a statutory plan of arrangement (the “Plan of Arrangement”) under the Business Corporations Act (Ontario) (the “Transaction”). The Meeting Materials have been filed under the Company’s profile at www.sedar.com.

2023

Co-operators Financial Services Limited to Acquire Smart Employee Benefits Inc.

January 3, 2023 – Toronto, ON

Co-operators Financial Services Limited (“Co-operators”), a wholly owned subsidiary of The Co-operators Group Limited, and Smart Employee Benefits Inc. (TSXV: SEB) (OTCQB: SEBFF) (“SEB”) announced today that they have entered into an arrangement agreement (the “Arrangement Agreement”) dated January 3, 2023 pursuant to which Co-operators will, indirectly through its wholly-owned subsidiary, acquire all of the issued and outstanding common shares of SEB (“SEB Shares”) by way of a statutory plan of arrangement (“Plan of Arrangement”) under the Business Corporations Act (Ontario) (the “Transaction”).

2022

SEB & Everyday People Financial Form Joint Venture to Launch Health Spending Account MastercardĀ® Program Across North America

November 1, 2022 – Mississauga, ON

SEB Administrative Services Inc. (“SEB Admin”), a subsidiary of Smart Employee Benefits Inc. (“SEB” or the “Company”) (TSXV: SEB) (OTCQB: SEBFF), an Insurtech provider of cloud based, end-to-end IT and Benefit Processing solutions for the life and group benefits marketplace and government, is pleased to announce, further to the letter of intent entered into April 22, 2022, pursuant to a definitive agreement dated October 27, 2022, that it has formed a Joint Venture with Everyday People Financial Inc. (“EP” or “Everyday People”), a financial technology and consumer financing company, a “Healthcare Spending Account Mastercard® Program”, offering a challenger product to traditional employer health spending accounts.

2022

Smart Employee Benefits Reports Q3/2022 Results

October 31, 2022 – Mississauga, ON

10 Consecutive Quarters of Positive Adjusted EBITDA; 

·      Q3/2022 revenue at $16.0 million increased by 3.3% versus Q3/2021 and 6.1% YTD

·      Posted 10th consecutive quarter of positive adjusted EBITDA

·      Trailing Twelve Months (“TTM”) revenue increased by $4.7 million (7.9%)

·      TTM gross profit remains flat

SEB Contract Wins for FY2022 Exceed $76.5 Million

September 27, 2022 – Mississauga, ON

Smart Employee Benefits Inc., (“SEB” or “the Company”) (TSXV:SEB, OTCQB:SEBFF), announces 3 new contract wins for fiscal year 2022 in Canada and USA. Collectively, the IT budgets for these entities are hundreds of millions of dollars annually, and SEB has vendor status to bid on the delivery of IT solutions and services.

2022

Smart Employee Benefits Inc. Provides Clarifying Disclosure with respect to its Credit Facility and Limited Guarantee

September 6, 2022 – Mississauga, ON

Smart Employee Benefits Inc. (“SEB” or the “Company”) (TSXV: SEB) (OTCQB: SEBFF) a leader in benefits processing solutions and services announced on June 24, 2022 via press release (the “Initial Press Release”) that it had entered into a third amending agreement to its secured revolving credit facility agreement (the “Credit Agreement”) with its international asset-focused lender (the “Lender”) to, among other things, extend availability to $15,000,000 under the existing Credit Agreement. 

2022

Corporate Update Payment of Convertible Interest-In-Kind

September 1, 2022 – Mississauga, ON

Smart Employee Benefits Inc. (“SEB” or the “Company”) (TSXV:SEB, OTCQB:SEBFF), a leader in benefits processing solutions and services today announced that as contemplated in the $5,000,000 convertible debenture (the “Debenture”) previously issued in March of 2022 to Co-operators Financial Services Limited (“The Co-operators”), SEB intends to issue common shares (the “Shares”) in satisfaction of the accrued interest payable on August 31, 2022 under the Debenture. 

2022

SEB Announces Marval North America Supplier Partnership with Edmonton International Airport

August 9, 2022 – Mississauga, ON

Smart Employee Benefits Inc., (“SEB” or “the Company”) (TSXV:SEB, OTCQB:SEBFF), announces award of supplier partnership between its subsidiary Marval North America (“MarvalNA“) and Edmonton International Airport (“EIA”) to deploy Marval IT Service Management “MSM” software licenses, and provide hosting, configuration, implementation and training services. EIA have stated that the intent of the selection of a new ITSM tool is improve operational performance, provide efficiencies, and streamline processes, ultimately resulting in an effortless customer experience for their employees and stakeholders.

2022

Smart Employee Benefits Reports Q2/2022 Results 9 Consecutive Quarters of Positive Adjusted EBITDA; Conference Call Thursday August 4th at 3:30 P.M.

August 1, 2022 – Mississauga, ON

·      Q2/2022 revenue at $16.7 million increased by 3.8% versus Q2/2021 and 4.2% over Q1/2022

·      Posted 9th consecutive quarter of positive adjusted EBITDA

·      Trailing Twelve Months (“TTM”) revenue increased by $5.0 million (8.5%) and TTM gross profit increased by $0.148 million (0.7%)

·      Over 90% of targeted 2022 revenues are currently under contract