Smart Employee Benefits Inc. (“SEB” or the “Company”) (TSXV: SEB) announces that the TSX Venture Exchange (“TSXV”) has granted an extension with respect to the duration of the Company’s $20,000,000 strategic private placement financing, which financing was previously announced by press release dated November 5, 2019.  The outside date upon which final acceptance of the private placement may be granted by the TSXV has been extended to January 8, 2020.

Conference Call Scheduled Monday November 4, 2019 at 11:00 A.M.

Smart Employee Benefits Inc. (“SEB” or the “Company”) (TSXV: SEB) today reported its financial results for the three and nine months ending August 31, 2019.

SEB Administrative Services Inc. (“SEB Admin”), a subsidiary of Smart Employee Benefits Inc. (TSXV: SEB), a leader in benefits administration and data processing services, has entered into an agreement with Oncidium Inc (“ONC”), to integrate Oncidium’s services and solutions (“OHGMed”) around Employee Absence and Disability Management into SEB’s benefits processing  “FlexPlus” suite of solutions and services.

Strategic Transaction Update – SEB previously engaged Scotiabank to assist the Company in identifying strategic investment transactions that will surface value for shareholders and provide investment capital to expedite the Company’s strategic business and technology roadmaps. The Company is advanced in the second stage of the process. The Company does not expect to disclose further developments with respect to this process until its board of directors approves a specific transaction.

States John McKimm, President and CEO of Smart Employee Benefits Inc.:

“Revenue for the first half of 2019, while a decline from 2018, was ahead of budget. In 2018, in addition to managing its annual clientele’s needs, certain of SEB’s clients requested additional one-time services such as systems implementations, platform transitions and global event management.  In 2019, SEB maintained its base revenue and continued to grow its contract portfolio.

SEB closed the sale of 75% of Paradigm operating assets, with 58.6% going to Golden Opportunities Fund Inc. (“Golden”), a retail venture capital fund managed by Westcap Mgt. Ltd., and 16.4% going to Paradigm management. The purchase price included a cash amount of approximately $4.5M, cancellation of $3.0M of Paradigm preferred shares owned by Golden, which were convertible into SEB common shares, and an adjustment for working capital and pre-close earnings.

Conference Call Scheduled Thursday, May 2, 2019 at 11:30 A.M.

Smart Employee Benefits Inc. (“SEB” or the “Company”) (TSXV: SEB) today reported its financial results for the fiscal quarter ending February 28, 2019.

Conference Call Scheduled Monday, April 8, 2019, 11:00 A.M.

Smart Employee Benefits Inc. (“SEB” or the “Company”) (TSXV: SEB) today reported its financial results for the fiscal year ending November 30, 2018.