SEB Closes Equity Financing of $500,000
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 11/18/13 -- Smart Employee Benefits Inc. ("SEB") (TSX VENTURE: SEB), is pleased to announce it has closed an equity private placement of $500,000; consisting of 1,250,000 units at a purchase price of $0.40 per unit, with each unit consisting of 1 common share of SEB and 1 common share purchase warrant of SEB (the "Share Purchase Warrant"). Each Share Purchase Warrant is exercisable for 1 common share of SEB at any time for a three (3) year term from the date of closing at an exercise price of $0.50 in year one, $0.55 in year two, and $0.65 in year three.
Pursuant to a Finder's Fee Agreement with BBS Securities Inc. (the "Finder"), the Finder received a cash fee of $25,000, being 5% of gross proceeds of $500,000 raised from subscriptions in the private placement from persons introduced to SEB by the Finder, as well as 75,000 finder warrants (the "Finder Warrants"). Each Finder Warrant is exercisable for a period of two years from the closing date at an exercise price of $0.40 for 1 common share of SEB.
All securities issued in connection with the private placement are subject to a four month hold period from the date of closing.
Proceeds from the private placement will be used for acquisitions and working capital requirements.
About SEB: SEB is a technology company providing software, solutions and services specializing in managing group benefit solutions and healthcare claims processing environments for corporate and government clients. This is a $56.0 billion industry, of which over $33.0 billion is employee group benefit plans and over $23.0 billion of other healthcare benefit claims (e. g. workers' compensation claims, travel benefits, various federal and provincial government programs, dental associations, drug associations, etc.). In the employee group benefits industry, SEB operates as a licensed Third Party Administrator ("TPA") and Insurance Broker utilizing its software platform to provide "totally hosted PCI compliant supply chain solutions" for managing the complete group benefits business processes between insurers, clients, brokers, consultants, technology service providers and healthcare service providers. In healthcare claims processing, SEB also operates as a systems integrator utilizing its technology platform together with other technologies to provide customized solutions for highly specialized environments (e.g. travel claims, etc.). The technology and expertise deployed in this area also allows SEB to provide other related supply chain, systems integration and human resource solutions and services to the same clients.
For further information about SEB, please visit .
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Media Contacts:
Smart Employee Benefits Inc.
John McKimm
President/Chief Executive Officer
(416) 460-2817
Smart Employee Benefits Inc.
Shelly Frank
Vice-President, Marketing
(888) 939-8895 x 358
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Datum: 18.11.2013 - 11:33 Uhr
Sprache: Deutsch
News-ID 1284428
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