From the Wires
SEB Announces Proposed Equity Financing of Up to $1,050,000
By: Marketwired .
Jan. 2, 2013 05:40 PM
TORONTO, ONTARIO -- (Marketwire) -- 01/02/13 -- Smart Employee Benefits Inc. ("SEB") (TSX VENTURE:SEB), is pleased to announce it intends to complete an equity private placement of up to $1,050,000 of units; at a purchase price of $0.35 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 shall be exercisable at any time for a period of 12 months from the date of closing at an exercise price of $0.40 for 1 common share of SEB. The financing is a non brokered financing of which SEB expects a significant portion will be received from private investors and strategic business partners. 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. The private placement is subject to regulatory approval. SEB has previously filed for price reservation of this financing with the TSX Venture Exchange on December 28, 2012.
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 (eg: workers compensation claims, travel benefits, various federal and provincial government programs, dental associations, drug associations, etc.) In the employee group benefits industry, SEB operates 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 (eg: 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. More information is available at the company website: www.seb-inc.com.
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.
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