Smart Employee Benefits Inc. (“SEB” or the “Company”) (TSXV: SEB) is pleased to announce the following updates:

Board of Director and Chairman Changes – Our Chairman, Ronald Barbaro has resigned as Chairman and Director of the Company. Mr. Barbaro has been Chairman and Director from the early stages when SEB was founded. Mr. Barbaro remains one of the largest shareholders of SEB and committed to the success of the Company. Mr. Barbaro is scaling back his business activities to focus more on family. We thank Mr. Barbaro for his leadership and commitment to the Company over the years.

Smart Employee Benefits Inc. (“SEB” or the “Company”) (TSXV: SEB) a leader in benefits processing solutions and services, today announced the issuance by SEB of a $20,000,000 convertible debenture (the “Debenture”) by way of a non-brokered private placement (the “Financing”). The Financing solidifies SEB’s balance sheet and provides the capital to focus on numerous growth opportunities. 

Smart Employee Benefits Inc. (“SEB” or the “Company”) (TSXV: SEB) a leader in benefits processing solutions and services, and The Co-operators Group Ltd., a Canadian insurance and financial services co-operative, today announced the signing of a definitive debenture purchase agreement for the issuance of a $20,000,000 convertible debenture (the “Debenture”) by way of a non-brokered private placement (the “Financing”).  The Financing solidifies SEB’s balance sheets and provides the capital to focus on numerous growth opportunities.    

Conference Call Scheduled Thursday, November 5, at 11:30 A.M.

October 30, 2020 – Mississauga, ON: Smart Employee Benefits Inc. (“SEB” or the “Company”) (TSXV: SEB) today reports its financial results for the third quarter of 2020.

Smart Employee Benefits Inc. (“SEB” or the “Company”) (TSXV: SEB) announces that it is continuing to work on completing the Company’s $20,000,000 strategic financing transaction by way of a private placement of a convertible debenture, which financing is being provided by a large strategic investor. The principal amount of the convertible debenture is convertible into common shares of the Company at $0.25 per share. The proceeds of the financing will be used to repay term indebtedness of the Company. The financing was initially announced by press release dated November 5, 2019 and most recently by press release dated September 18, 2020.

Smart Employee Benefits Inc. (“SEB” or the “Company”) (TSXV: SEB) is providing a corporate update.

Strategic Financing

The Company is continuing to work on completing its $20,000,000 strategic financing transaction by way of a private placement of a convertible debenture, which financing is being provided by a large strategic investor. The principal amount of the convertible debenture is convertible into common shares of the Company at $0.25 per share. The proceeds of the financing will be used to repay term indebtedness of the Company. The financing was initially announced by press release dated November 5, 2019 and most recently by press release dated August 20, 2020.

Smart Employee Benefits Inc. (“SEB” or the “Company”) (TSXV: SEB) announces that it is continuing to work on completing the Company’s $20,000,000 strategic financing transaction by way of a private placement of a convertible debenture, which financing is being provided by a large strategic investor.  The principal amount of the convertible debenture is convertible into common shares of the Company at $0.25 per share.  The proceeds of the financing will be used to repay term indebtedness of the Company.  The financing was initially announced by press release dated November 5, 2019 and most recently by press release dated July 22, 2020.

Smart Employee Benefits Inc. (“SEB” or the “Company”) (TSXV: SEB) today reports its financial results for the second quarter of 2020.

Smart Employee Benefits Inc. (“SEB” or the “Company”) (TSXV: SEB) announces that it is continuing to work on completing the Company’s $20,000,000 strategic financing transaction by way of a private placement of a convertible debenture, which financing is being provided by a large strategic investor.  The principal amount of the convertible debenture is convertible into common shares of the Company at $0.25 per share.  The proceeds of the financing will be used to repay term indebtedness of the Company.  The financing was initially announced by press release dated November 5, 2019 and most recently by press release dated June 22, 2020.

Smart Employee Benefits Inc. (“SEB” or the “Company”) (TSXV: SEB) today reports its financial results for the first quarter of 2020.

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

“Adjusted EBITDA and EBITDA improved significantly for the first quarter, 2020 over the comparable period the previous year.  The gross margin percentage quarter over quarter declined 1.2%. Operating costs reduction initiatives led to the year over year improvement of over $1.089M in cost structure, which is expected to be over $4.0M annually.