Press Releases

2020

SEB announces the completion of $20 million Strategic Financing and $10 million new credit facility

December 1, 2020 – Mississauga, ON

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. 

Read Press Release
2020

SEB and the Co-Operators announce $20 millions Strategic Financing Agreement

November 16, 2020 – Mississauga, ON

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.    

Read Press Release
2020

SEB Reports Results for Third Quarter 2020

November 2, 2020 – Mississauga, ON

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.

Read Press Release
2020

SEB provides further update on Strategic Financing Transaction

October 16, 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 September 18, 2020.

Read Press Release
2020

Smart Employee Benefits Inc. Corporate Update

September 18, 2020 – Mississauga, ON

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.

Read Press Release
2020

SEB provides further update on Strategic Financing Transaction

August 20, 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 July 22, 2020.

Read Press Release
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.

Read Press Release
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.

Read Press Release
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.

Read Press Release