Press Releases

2020

SEB provides further update on Strategic Financing Transaction

July 22, 2020 – Mississauga, ON

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.

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2020

SEB reports results for first quarter 2020 conference call scheduled Wednesday June 17, at 11:00 a.m.

June 15, 2020 – Mississauga, ON

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.

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2020

SEB announces postponement in timing of annual meeting of shareholders and filing of executive compensation disclosure and Q1 financial statements

May 28, 2020 – Mississauga, ON

Smart Employee Benefits Inc. (“SEB” or the “Company”) (TSXV: SEB) announces that the challenges posed by COVID-19 have resulted in a continuing delay in the finalization and filing of the Company’s interim financial statements for the quarter ended February 29, 2020 and the related management’s discussion and analysis (collectively the “First Quarter Filings”), as required by Part 4 and Part 5 of National Instrument 51-102: Continuous Disclosure Obligations.

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2020

SEB provides further update on Strategic Financing Transaction

May 22, 2020 – Mississauga, ON

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 private placement financing, which is being provided by a large strategic investor.  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 April 22, 2020.

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2020

SEB provides update to postponement in filing of financial statements

April 28, 2020 – Mississauga, ON

Smart Employee Benefits Inc. (“SEB” or the “Company”) (TSXV: SEB) announces that the challenges posed by COVID-19 have resulted in a continuing delay in the finalization and filing of: (i) the Company’s audited annual financial statements for the fiscal year ended November 30, 2019 and the related management’s discussion and analysis (collectively, the “Annual Filings”); and (ii) the Company’s interim financial statements for the quarter ended February 29, 2020 and the related management’s discussion and analysis (collectively the “First Quarter Filings”), all as required by Part 4 and Part 5 of National Instrument 51-102: Continuous Disclosure Obligations.

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2020

SEB update on Strategic Financing Transaction

April 22, 2020 – Mississauga, ON

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 private placement financing, which is being provided by a large strategic investor. The financing was initially announced by the Company’s press release on November 5, 2019 and most recently by press release on March 23, 2020. The strategic financing transaction is expected to close coincident with the completion of an operating credit facility, which negotiations are in process.

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2020

SEB announces postponement in Filing of Financial Statements

March 27, 2020 - Mississauga, ON

Smart Employee Benefits Inc. (“SEB” or the “Company”) (TSXV: SEB) announces that it will not be in a position to file its audited annual financial statements for the fiscal year ended November 30, 2019 and the related management’s discussion and analysis, as required by Part 4 and Part 5 of National Instrument 51-102: Continuous Disclosure Obligations (collectively, the “Annual Filings”) by the filing deadline of March 30, 2020.

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2020

Walmart Canada adopts SEB’s Flexplus and EQ Care to offer Virtual Healthcare to over 90,000 Associates

March 27, 2020 - Mississauga, ON

SEB Administrative Services Inc. (“SEB Admin”), a subsidiary of Smart Employee Benefits Inc. (“SEB Inc.”, TSXV:SEB), a leader in health and benefits administration and processing solutions and services, have partnered with virtual healthcare provider EQ Care to make virtual healthcare available to more than 90,000 Walmart Canada associates.

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