Business & Finance
Business and Finance
Business and Finance
Sun, October 28, 2012
Sat, October 27, 2012
Fri, October 26, 2012 SEB Announces Convertible Debt Financing of Up to $1.5 Million
October 26, 2012 14:29 ET
SEB Announces Convertible Debt Financing of Up to $1.5 Million
TORONTO, ONTARIO--(Marketwire - Oct. 26, 2012) - Smart Employee Benefits Inc. ("SEB") (TSX VENTURE:SEB), is pleased to announce it intends to complete a private placement consisting of up to $1,500,000 principal amount of convertible notes (the "Notes"). The term of the Notes will be 2 years. The Notes will bear interest at 10% per annum payable quarterly. The notes are convertible into common shares of SEB at a conversion price of $0.45 per common share any time during the period the Notes are outstanding. The Notes can be prepaid by SES without penalty or bonus at any time after the first anniversary of the initial closing. All securities issued in connection with the private placement are subject to a four month hold period from the date of closing.
Proceeds from the private placement will be used for acquisitions and working capital requirements. The private placement is subject to regulatory approval.
Neither the 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.
