Sign up USA
Proactive Investors - Run By Investors For Investors

Smart Employee Benefits completes $2mln share offer

SEB said it expects to be "largely free of term debt by 2019 with a healthy growing cash flow profile"
SEB has made substantial progress in the past 12 months and is well positioned for growth going forward.

Smart Employee Benefits Inc. (CVE:SEB) said it has closed its $2mln share offering via the issue of 12.5 mln common shares at 16 cents per share.

In a statement the company said that all shares issued under the offer will be subject to a four-month holding period, with the first tranche to expire on February 4, 2018, the second tranche on February 7, 2018 and the third tranche on February 11, 2018.

READ: Smart Employee Benefits bolstered by joint venture deal with US based NeST Technology Corp

As part of the offering, NeST Group, took up 6 mln common shares for $960,000, through a controlled investment group.

SEB president and CEO, John McKimm said: SEB has made substantial progress in the past 12 months and is well positioned for growth going forward."

Sales are anticipated to exceed $110mln for fiscal 2017, up around 15% from the previous year.

Healthy growing cash flow profile

The company said around $9.2mln has been raised in the past year, over 80% subscribed for by existing shareholders, insiders and strategic partners.

In a statement, the company said that it has a strong base from which to carry out its growth strategy in Canada and the US. It is forecasting "no major capital expenditure programs and its infrastructure is very scalable."

SEB said it expects to be "largely free of term debt by 2019 with a healthy growing cash flow profile."

View full SEB profile View Profile

Smart Employee Benefits Timeline

Related Articles

Mobile payments
March 13 2018
More ways of paying attract more customers, which makes merchants keener to work with Bango
Apps on a smartphone
July 06 2018
“As of today, appScatter tracks 1.2bln app URLs, from 10.7mln apps and 2.9mln publishers,” chairman Clive Carver told shareholders at the AGM in June
Rail car on a track
July 26 2018
The US has more than 1.5 million freight cars and Duos Technologies has found a faster and innovative way to safely maintain them

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You understand that the Company receives either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate.

You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Copyright ©, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use