October 29, 2014 – Toronto, ON
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 announces that, pursuant to its stock option plan, the following stock options to acquire common shares of SEB have been granted. The stock options may be exercised at $0.50 per share and they have a three year term, expiring on October 24, 2017.
- 600,000 stock options to John McKimm, Director, President and Chief Executive Officer of SEB.
- 100,000 stock options to each of the following independent directors of SEB; Ron Barbaro, Nancy Elliott, Keith Harris, Joseph Iannicelli and Stephen Peacock. These options were granted as part of an annual review of the compensation to independent directors.
SEB has also granted an additional 200,000 stock options to First Canadian Capital Corp. (“First Canadian”), a firm engaged to provide consulting and investor relations services, as announced on February 11, 2014. The stock options to First Canadian may be exercised at $0.50 per share, will vest quarterly over 12 months in accordance with the policies of the TSX Venture Exchange (“TSXV”) and expire upon the earlier of: (i) October 24, 2016; and (ii) 30 days after First Canadian ceases to provide any and all services to SEB. The stock option grant to First Canadian is subject to TSXV approval.
ABOUT SEB: SEB’s core expertise is managing specialized Big Data environments, of which healthcare and benefits claims processing is a major focus. SEB uses a SaaS business model to provide software solutions and services specializing in managing group benefit solutions and healthcare claims processing environments for corporate and government clients. Health Claims Processing in Canada is a $60.0 plus billion industry, of which over $36.0 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/Third Party Payor 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 and specialized practice expertise to provide customized, fully integrated solutions for unique claims 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. SEB has unique expertise in tying legacy systems data to new systems environments while providing real time integrated access to the legacy systems data.
For further information about SEB, please visit www.seb-inc.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.