Automated Benefits Corp.

Automated Benefits Corp.

December 07, 2010 10:56 ET

Automated Benefits Corp Announces Issuance of Options to Director

TORONTO, ONTARIO--(Marketwire - Dec. 7, 2010) - Automated Benefits Corp. (the "Corporation") (TSX VENTURE:AUT) announces that, subject to approval of the TSX Venture Exchange, it intends to issue options to a Director. The Corporation will issue 35,000 stock options in accordance with the Corporation's stock option plan. The options will vest in three equal tranches with one-third vesting immediately, one-third vesting in 12 months, and one-third vesting in 24 months, at an exercise price of $0.20. The granting of the stock options is subject to regulatory approval.

About Automated Benefits Corp (TSX VENTURE:AUT)

Automated Benefits Corp., headquartered in Toronto, Canada, is a software company dedicated to developing applications for the insurance industry in North America and Europe. The Corporation currently has two platforms: Symbility and Adjudicare.

Symbility automates property insurance claims through its three complementary software components which afford users the mobility, speed and control needed to efficiently and quickly move onto the next claim. Symbility Claims Connect is the collaborative workflow management tool that gives every claim participant real-time access to the claims they are working on. Symbility Inside Adjuster is an integrated application designed to streamline the first notice of loss process which leads to faster settlement of claims. Symbility Mobile Claims software is an estimating tool that increases speed, efficiency and accuracy by allowing on-site claims processing. 

Adjudicare is a software solution used by local insurance brokers and third party administrators across Canada in the adjudication of health and dental claims. Adjudicare's software pays claims in real time giving clients optimum flexibility along with transparent disclosure on the benefit plan's financial performance. 

Neither 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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