The company said funds raised will be used for repayment of debt and general working capital purposes.
Under the offering, 4.15 million units were issued at a price of C$0.21.5 cents per unit, with each unit consisting of one SEB share and one common share purchase warrant of the company.
Each warrant is exercisable into one common share of the company at a price of C$0.30 cents per share for two years from the date of issuance
The securities issued in connection with the offering will be subject to a four-month hold period, which will expire on May 10, 2019.
Shares of Smart Employee Benefits were at C$0.23 on Friday.