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.

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

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. 

Conference Call Scheduled Wednesday November 3 at 4:00 P.M. 

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

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

Restricted Share Units

The Company has granted share-based compensation to its independent directors.

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.

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. 

SEB Administrative Services Inc. (“SEB Admin”) has fully implemented and gone live with the life insurance administration for the Royal Canadian Mounted Police (“RCMP”) Group Life Insurance and Disability Income Insurance plans. This is in accordance with the multi-year contract awarded to SEB Admin as announced by the RCMP on January 28, 2021. This initiative is in line with the Royal Canadian Mounted Police objective of providing enhanced member experience, and to ensure its active and retired 40,000+ plan members have a modern and sustainable insurance administration solution. 

Smart Employee Benefits Inc., (“SEB”, TSXV:SEB), through its operating entities, has been awarded net new contracts valued in excess of $27.0M during the month of May, 2021. Clients included the Government of Canada and various corporate entities. The contracts extend out as long as 5 years. They include benefits processing contracts valued at over $2.0M and IT solutions and services valued at over $25.0M. This brings net new contract wins to in excess of $69.0M for fiscal 2021 year to date.

Smart Employee Benefits Inc., (“SEB”, TSXV:SEB), through its operating entities, has been awarded multiple net new contracts valued in excess of $42.7M during the first 4 months of fiscal 2021. Clients included the Government of Canada, the Province of Ontario and various corporate entities. The contracts extend out as long as 9 years with the majority in the 3-to-6-year range. They include benefits processing contracts valued at over $8.2M and IT solutions and services valued at over $34.5M. The contracts are all net new business wins and add to SEB’s recurring revenue contract value. The majority are related to RFP (Request for Proposal) competitive bids. SEB’s RFP win rate in the past 4 months is >70%, an increase from >50% in fiscal 2020 and >30% in 2019. Our RFP win rate has been steadily increasing since 2019. RFP wins together with our Channel Partner client acquisition transactions are steadily growing our contract values. Today we have visibility on over 80% of 2021 revenues over the next 4 years with contract terms as long as 9 years and contract values in excess of $400M.