SEB Announces Amended Omnibus Long Term Incentive Plan and Grant of Stock Options and RSUs

MISSISSAUGA, Ontario, Aug. 06, 2021 (GLOBE NEWSWIRE) — Smart Employee Benefits Inc. (“SEB” or the “Company”) (TSXV: SEB) announces that the proposed amendments to the Company’s Omnibus Long-Term Incentive Plan (the “Plan”) were approved by shareholders at the annual meeting of shareholders held on May 27, 2021, and which amendments were set out in the Company’s management information circular for the meeting. Certain additional housekeeping and clerical amendments are currently being incorporated into the Plan, subject to approval from TSX Venture Exchange (the “Exchange”). Upon receipt of Exchange approval, a copy of the further amended Plan will be available on SEDAR under the Company’s profile at www.sedar.com.

The Company also wishes to announce that its Board of Directors has approved the following grants pursuant to the Company’s Plan.

The Company has granted stock options to 34 senior officers and employees exercisable into an aggregate of 1,166,250 common shares, of which 318,750 options were granted to senior officers. All of the stock options are exercisable at $0.29 per share with a 36-month term, with 10% of the options vesting every 6 months beginning 6 months after the grant date until the date that is 30 months after the grant date, with the remaining 50% vesting after 36 months.

The Company has also granted to the same parties an aggregate of 3,498,750 restricted share units (“RSUs”) to various senior officers and employees in accordance with the Plan, of which 956,250 RSUs were granted to senior officers. The RSUs vest 10% every 6 months after the grant date until the date that is 30 months after the grant date, with the remaining 50% after 36 months.

About Smart Employee Benefits Inc. (“SEB”):
SEB is a proven provider of leading-edge IT and benefits processing software, solutions and services for the Life and Group benefits marketplace and government. We design, customize, build and manage mission critical, end-to-end technology, people and infrastructure solutions using SEB’s proprietary technologies and expertise and partner technologies. We manage mission critical business processes for over 150 blue chip and government accounts, nationally and globally. Over 90% of our revenue and contracts are multi-year recurring revenue streams contracts related to government, insurance, healthcare, benefits and e-commerce. Our solutions are supported nationally and globally by over 600 multi-certified technical professionals in a multi-lingual infrastructure, from 8 offices across Canada and globally.

Our solutions include both software and services driven ecosystems including multiple SaaS solutions, cloud solutions & services, managed services offering smart sourcing (near shore/offshore), managed security services, custom software development and support, professional services, deep systems integration expertise and multiple specialty practice areas including AI, CRM, BI, Portals, EDI, e-commerce, digital transformation, analytics, project management to mention a few. The Company has more than 20 strategic partnerships/relationships with leading global and regional technology and consulting organizations.

Forward-looking statements
Certain information in this release, may constitute forward-looking information. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS RELEASE REPRESENTS THE COMPANY’S CURRENT EXPECTATIONS AND, ACCORDINGLY, IS SUBJECT TO CHANGE. HOWEVER, THE COMPANY EXPRESSLY DISCLAIMS ANY INTENTION OR OBLIGATION TO UPDATE OR REVISE ANY FORWARD-LOOKING INFORMATION, WHETHER AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE, EXCEPT AS REQUIRED BY APPLICABLE LAW.

Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release.

All figures are in Canadian dollars unless otherwise stated.

Media and Investor Contact
John McKimm
President/CEO/CIO
Office (888) 939-8885 x 2354
Cell (416) 460-2817
john.mckimm@seb-inc.com