BRIEF-Smart Employee Benefits announces two proposed convertible note offerings of up to $1.3 million each

Wed Sep 21, 2016 10:49am EDT
 
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Sept 21 (Reuters) - Smart Employee Benefits Inc :

* Company intends to complete two private placement offerings each consisting of up to $1.3 million of principal of convertible promissory notes

* First offering to consist of unsecured notes that will have one-year term, principal amount to be convertible at $0.30 per share

* One-Year notes will bear interest at 12% per annum, with interest calculated and payable monthly in arrears Source text for Eikon: Further company coverage: