TORONTO, ONTARIO — (Marketwired) — 10/21/14 — Smart Employee Benefits Inc. (“SEB”) (TSX VENTURE: SEB) is a technology company which uses a SaaS business model to provide “business processes software solutions and services” to corporate and government clients with specialty practices focused on “managing group benefit solutions and health claims processing environments.”
Reference is made to a press release dated October 1, 2014, regarding SEB–s two proposed private placement financings for a total of up to $3,500,000, consisting of a $1,000,000 equity financing and $2,500,000 debt financing. SEB will no longer be proceeding with the $2,500,000 debt financing but will be increasing its equity financing up to an aggregate of $3,000,000 pursuant to two equity financings, subject to regulatory approval. The proceeds of these two financings will be used primarily for acquisitions and working capital.
TERMS:
ABOUT SEB: SEB–s core expertise is managing specialized Big Data environments, of which healthcare and benefits claims processing is a major focus. SEB uses a SaaS business model to provide software solutions and services specializing in managing group benefit solutions and healthcare claims processing environments for corporate and government clients. Health Claims Processing in Canada is a $60.0 plus billion industry, of which over $36.0 billion is employee group benefit plans and over $25.0 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 Third Party Administrator and Insurance Brokerage 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 and specialized practice expertise to provide customized, fully integrated solutions for unique claims environments (e.g. travel claims, student benefits, hospitals, unique government applications 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. SEB has unique expertise in tying legacy systems data to new systems environments while providing real time integrated access to the legacy systems data.
Forward-Looking Statements
This news release is intended for information purposes only. Statements made in this news release may contain “forward looking” information about the company–s future business prospects. These statements while expressed in good faith and believed to have a reasonable basis are subject to risk and uncertainties that could cause actual results to differ materially from those set forth or implied by such forward looking statements. Investors should consult a professional advisor before making any investment decision.
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:
Smart Employee Benefits Inc.
John McKimm
President/Chief Executive Officer
(416) 460-2817
Smart Employee Benefits Inc.
Shelly Frank
Vice-President, Marketing
(888) 939-8885 x 358
First Canadian Capital Corp.
Dan Boase
416-742-5600 or 1-866-580-8891
You must be logged in to post a comment Login