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Smart Employee Allowances Inc (TSX-V: SEB) has agreed to sell Paradigm Consulting Group Inc to Golden Opportunities Fund, a retail armamentarium managed by Canadian clandestine disinterestedness and adventure basic abutting Westcap Management.
The deal, appointed to abutting on November 30, includes a banknote payment, abandoning of a $3 actor adopted advance fabricated by Golden Opportunities beforehand in 2018, and a alive basic adjustment.
Mississauga, Ontario-based SEB is a provider of technology solutions and casework for managing account and healthcare claims processing.
It said it will absorb a affiliation with Regina-based Paradigm for deployment of SEB solutions and casework in Saskatchewan and Manitoba.
SEB Signs Letter of Intent to Advertise Paradigm Consulting Group
September 24, 2018
REGINA, Saskatchewan and MISSISSAUGA, Ontario, Sept. 24, 2018 (GLOBE NEWSWIRE) — Smart Employee Allowances Inc. (“SEB” or the “Company”) (TSXV:SEB) announces that on September 18, 2018, it has active a Letter of Intent with Golden Opportunities Armamentarium Inc. (“Golden”), managed by Westcap Mgt. Ltd., to advertise 100% of Paradigm Consulting Group Inc. (“Paradigm”). The acquirer will be Golden in affiliation with Paradigm’s chief management. The acquirement bulk will be aggregate amid Golden and Paradigm management. The acquirement bulk includes a banknote amount, abandoning of $3.0 actor of Paradigm adopted shares endemic by Golden, which are convertible into SEB accepted shares, and a alive basic adjustment. Closing is targeted for November 30, 2018, accountable to final due activity and authoritative and lath approval. The banknote gain from the auction will be acclimated to accord debt of about $8.0 actor and abate revolving acclaim facilities.
States John McKimm, President/CEO/CIO of SEB, “SEB has fabricated the cardinal accommodation to focus on its Canadian Federal Government business and the “InsureTech” sector, leveraging its abstruse assets and platforms to bear to accumulated and government audience world-class allowance and allowances administering and processing solutions. SEB will absorb a cardinal business accord with Paradigm and Golden post-closing, decidedly as it relates to opportunities for deployment of SEB’s allowances administering and processing solutions in the Saskatchewan and Manitoba markets.”
About Golden Opportunities FundGolden Opportunities Armamentarium (“Golden”) is a Retail Adventure Basic armamentarium launched as the aboriginal bigoted armamentarium in Saskatchewan in 1999 and after in Manitoba in 2009. The Armamentarium is managed by Westcap Mgt. Ltd. Golden invests basic from its 28,000 shareholders in baby and average sized advance companies. Since its birth Golden has invested added than $350 actor in 132 altered companies impacting bounded economies, communities and families.
About SEBSEB’s business is “IT Managed Services”, focused on Business Process Automation and Outsourcing accouterment software, solutions and casework to a civic and all-around applicant abject on multi-year contracts. SEB currently serves accumulated and government audience beyond Canada and internationally. Over 80% of SEB’s revenues acquire from government, allowance and healthcare organizations.
John McKimm, President/CEO/CIOSmart Employee Allowances Inc.Tel: 416.460.2817[email protected]www.seb-inc.com Bill Mitoulas, Investor RelationsVenture North Basic Inc.Tel: 416.479.9547[email protected]www.venturenorthcapital.com
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