Press Releases

2022

SEB Announces Proposed Private Placement Financing

February 22, 2022 – Mississauga, ON:

Smart Employee Benefits Inc. (“SEB” or the “Company”) (TSXV: SEB) a leader in benefits processing solutions and services today announced that it has entered into a non-binding agreement with Co-operators Financial Services Limited (“The Co-operators”), a large existing strategic investor, for a convertible debenture (the “Debenture”) on a non-brokered private placement basis to raise gross proceeds of $5,000,000 (the “Financing”). The proceeds of the Financing will be used for general working capital purposes including the repayment of select payables.  

2022

SEB Adds 3 New Healthcare Benefits Processing Wins and 1 Renewal

February 17, 2022 – Mississauga, ON:

Smart Employee Benefits Inc., (“SEB” or the Company) (TSXV:SEB, OTCQX: SEBFF), is pleased to announce multiple benefits solution wins and renewals.

States Mohamad El Chayah, COO of SEB and President/CEO of SEB Administrative Services Inc. (“SEB Admin”):We are thrilled with these wins, especially those that are driven by our innovation agenda and help us venture into new markets.  This demonstrates the breadth of our solutions, the depth of our services and the flexibility and adaptability of our products.

2022

SEB’s Subsidiary, Marval North America Receives OECM Supplier Contract to Provide Integrated IT Service Management (ITSM) Software and Delivery Solutions to over 800 Customers

February 15, 2022 – Mississauga, ON:

Marval North America (“MarvalNA“), a subsidiary of Smart Employee Benefits Inc. (“SEB”) (TSXV: SEB, OTCQX: SEBFF), is pleased to announce that we are an awarded supplier partner on OECM’s IT Software Platform and Related Services (for ITSM and ESM). Marval can provide integrated IT Service Management (ITSM) software and delivery solutions to over 800 customers on the multi-year agreement. 

2022

Corporate Update: SEB Group Receives Contract Extension Valued >$5.0M Increasing Contract Wins in Q1/2022 to >$43.0M

February 7, 2022 – Mississauga, ON:

Smart Employee Benefits Inc., (“SEB” or the Company) (TSXV: SEB, OTCQX: SEBFF), has received an extension of an existing contract with a budget greater than $5.0M. This brings contract wins and extensions to over $43.0M Q1/2022. SEB’s RFP sales pipeline includes tens of millions of dollars of contract value where decisions are pending over the next several months. In addition, SEB’s “White-Label TPA” sales pipeline includes over $6.0B of premium, of which approximately $2.0B is in advanced stages of negotiations. Currently, SEB has over 530,000 plan members under contract, representing approximately $1.3B of premium.

2022

Corporate Update: SEB Group Awarded Net New Contracts Valued >$38M

February 2, 2022 – Mississauga, ON:

Smart Employee Benefits Inc., (“SEB” or the Company) (TSXV:SEB, OTCQX: SEBFF), through its operating entities, has been awarded new contracts valued in excess of $38M. These contracts extend out as long as 6 years including option years with the majority of revenue realized in the 2 to 4 year range. These contracts are all net new business and adds to SEB’s recurring revenue contract value, increasing this value to over $450.0M. The contracts were competitive RFP (Request for Proposal) bids

2021

SEB Signed Managed Services Recurring Revenue Contracts in Fiscal 2021 Valued >$140.0M

December 1, 2021 – Mississauga, ON:

Smart Employee Benefits Inc., (“SEB”) (TSXV:SEB) (OTCQX: SEBFF), through its operating entities, for fiscal year ending November 30, 2021, has signed new contracts valued in excess of $140.0M. The majority of clients include the Government of Canada and various corporate enterprises. The contracts extend out as long as 9 years with the majority in the 3-to-5-year range. The contracts include approximately $47.3M initiated in fiscal 2021, with $61.4M extensions and $31.6M of option years. Approximately 81% of the contracts are recurring “Services” revenue streams with the remainder being recurring “Software and Solutions” revenue streams. 

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2021

SEB Announces Amended Omnibus Long Term Incentive Plan and Grant of Stock Options and RSUs

August 6, 2021 – Mississauga, ON

Smart Employee Benefits Inc. (“SEB” or the “Company”) (TSXV: SEB) announces that the proposed amendments to the Company’s Omnibus Long-Term Incentive Plan (the “Plan”) were approved by shareholders at the annual meeting of shareholders held on May 27, 2021, and which amendments were set out in the Company’s management information circular for the meeting.  Certain additional housekeeping and clerical amendments are currently being incorporated into the Plan, subject to approval from TSX Venture Exchange (the “Exchange”).  Upon receipt of Exchange approval, a copy of the further amended Plan will be available on SEDAR under the Company’s profile at www.sedar.com.

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2021

SEB Reports Results for Second Quarter 2021 5 Quarters of Positive EBITDA Conference Call Scheduled Thursday August 5 at 11:00 A.M.

July 30, 2021 – Mississauga, ON

Smart Employee Benefits Inc. (“SEB” or the “Company”) (TSXV: SEB) today reports its financial results for the second quarter ending May 31, 2021.

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

“The second quarter, 2021 is the fifth consecutive quarter of positive EBITDA and Adjusted EBITDA. The trailing twelve months EBITDA was a positive $1.662M and adjusted EBITDA was $3.047M for the same period. Continued positive growth is targeted for the remainder of fiscal 2021 and beyond. Adjusted EBITDA and EBITDA improved significantly for the second quarter 2021 over the comparable period the previous year. Adjusted EBITDA for Q2/21 was $1.015M vs. $0.520M in Q2/20. EBITDA was $0.708M vs. $0.511M for the same periods. Consolidated gross margin percentage improved by 4.2% compared to the second quarter 2020 and 5.2% over the same 6-month period in fiscal 2020. Operating costs were up marginally for the quarter, but down $0.504M for the first half, year over year. 

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