|By Marketwired .||
|August 16, 2013 01:34 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 08/16/13 -- John McKimm announces that he has acquired ownership and control over 833,333 common shares of Smart Employee Benefits Inc. (TSX VENTURE:SEB) ("SEB"), representing approximately 1.4% of SEB's currently issued and outstanding shares. The shares were acquired for a nominal price per share pursuant to a private transaction.
Following the acquisition, Mr. McKimm holds 5,833,343 or approximately 9.5% of the common shares of SEB outstanding and Madison Partners Corporation holds 3,580,426 or approximately 5.8% of the common shares of SEB outstanding. Madison Partners Corporation is a private holding company controlled by John McKimm.
The aforementioned securities held by Mr. McKimm and Madison Partners Corporation are subject to the provisions of an escrow agreement dated July 11, 2012 among SEB, Olympia Transfer Services Inc., John McKimm and certain other shareholders of SEB (the "Escrow Agreement"). Subject to the Escrow Agreement and compliance with applicable securities laws, Mr. McKimm and Madison Partners Corporation reserves the right to purchase additional securities of SEB or to dispose of any securities of SEB that he or Madison Partners Corporation may own, from time to time, in the open market or in privately negotiated transactions with one or more persons.
Source and Information: John McKimm c/o 125 Commerce Valley Drive West, Suite 100 Markham, Ontario L3T 7W4
This news release is issued pursuant to National Instrument 62-103: The Early Warning System. 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.
Chief Executive Officer