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Smart Employee Benefits closes funding round; raises C$890,000

The company said proceeds will be used for debt repayment and general working capital purposes
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The company supplies software, solutions and services to a Canadian and global client base

Tech group Smart Employee Benefits Inc (CVE:SEB) announced Friday is has closed its funding round, raising gross proceeds of C$892,250.

The company said funds raised will be used for repayment of debt and general working capital purposes.

Under the offering, 4.15 million units were issued at a price of C$0.21.5 cents per unit, with each unit consisting of one SEB share and one common share purchase warrant of the company.

READ: Smart Employee Benefits says benefits division is showing steady improvement

Each warrant is exercisable into one common share of the company at a price of C$0.30 cents per share for two years from the date of issuance

The securities issued in connection with the offering will be subject to a four-month hold period, which will expire on May 10, 2019.

Shares of Smart Employee Benefits were at C$0.23 on Friday. 

 

Contact Katie Lewis at [email protected]
Follow her on Twitter: @kelewis

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