November 08, 2016 18:23 ET
MISSISSAUGA, ONTARIO--(Marketwired - Nov. 8, 2016) - John McKimm announces that he has acquired ownership and control over 2,891,050 Common Shares ("Common Shares") of Smart Employee Benefits Inc. ("SEB"), representing approximately 2.6% of SEB's currently issued and outstanding Common Shares. The shares were acquired for $0.20 per share pursuant to a private placement transaction for investment purposes.
The shares were acquired by John McKimm as to 325,000 Common Shares and by Madison Partners Corporation ("Madison"), a corporation controlled by John McKimm, as to 2,566,050 Common Shares. Following the acquisition, John McKimm holds 9,356,383 Common Shares and Madison holds 7,144,518 Common Shares. The total of 16,500,901 Common Shares represents approximately 15.0% of the Common Shares of SEB currently issued and outstanding.
Subject to compliance with applicable securities laws, Mr. McKimm, through Madison or otherwise, reserves the right to purchase additional securities of SEB or to dispose of any securities of SEB that it may own, from time to time.
This news release is issued pursuant to National Instrument 62-103: The Early Warning System and Related Take-over Bid and Insider Reporting Issues. A copy of the Early Warning Report will appear with SEB's documents on the SEDAR website at www.sedar.com. A copy of the Early Warning Report may also be obtained by contacting John McKimm, SEB's Chief Executive Officer at 416-460-2817.
Smart Employee Benefits Inc.John McKimmChief Executive Officer416-460-2817
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