Amaya announces closing of previously announced bought deal private placement for gross proceeds of $30 million
CONVERSION OF 10.5% CONVERTIBLE DEBENTURES
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES/
MONTREAL, Feb. 7, 2013 /CNW Telbec/ - Amaya Gaming Group Inc. ("Amaya" or the "Company") (TSXV: AYA), an entertainment solutions provider for the regulated gaming industry, is pleased to announce that it has closed the previously announced private placement of units (the "Units") at a price of $1,000 per Unit for aggregate gross proceeds of $30,000,000 (the "Offering"), including the base amount of $20,000,000 plus an additional $10,000,000 as a result of the Underwriters (as defined below) exercising their option in full. The Offering was conducted through a syndicate of underwriters led by Canaccord Genuity Corp. as sole book runner and co-led by Macquarie Capital Markets Canada Ltd. and including Cormark Securities Inc., BMO Nesbitt Burns Inc. and Mackie Research Capital Corporation (collectively, the "Underwriters").
The net proceeds of the Offering will be used by Amaya for general corporate purposes.
Amaya has paid the Underwriters an aggregate commission of $1.35 million in connection with the Offering.
Each Unit consists of: (i) $1,000 principal amount of unsecured non-convertible subordinated debentures (the "Debentures"); and (ii) 48 non-transferable common share purchase warrants (each a "Warrant"). The Debentures will bear interest at a rate of 7.50% per annum payable semi-annually in arrears on January 31 and July 31 in each year commencing July 31, 2013. The first payment will include accrued interest from and including the closing date but excluding July 31, 2013. Interest payments will be satisfied through cash payment and the Debentures will have a maturity date of January 31, 2016.
Each non-transferable Warrant entitles the holders thereof to acquire one common share of the Company at a price per common share equal to $6.25 at any time up to a period ending January 31, 2016.
The Debentures and Warrants issued as part of the Offering are subject to a four-month plus one day statutory resale restriction ending on June 8, 2013.
Conversion of 10.5% Convertible Debentures
Amaya also announced that further to the mailing of its redemption notice all the holders of its 10.5% convertible unsecured subordinated debentures due April 30, 2014 (the "Convertible Debentures") converted their Convertible Debentures into common shares of Amaya in accordance with the terms of the Convertible Debentures. All the Convertible Debentures will be delisted from the TSX Venture Exchange as of the close of business on February 7, 2013.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, or for the account or benefit of U.S. persons (as such term is defined in Regulation S under the United States Securities Act of 1933, as amended).
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.
Founded in 2004, Amaya Gaming Group Inc. is a technology based gaming provider for the regulated gaming industry. An expansive global organization, present in North America, Latin America, Europe, and Asia, Amaya is an innovator in the gaming world.
Headquartered in Montreal, Canada, Amaya provides a host of services and solutions that range from: online casino, poker and mobile games and platforms, traditional and mobile lotteries, hospitality in-room entertainment systems, management systems, content suites, advisory and management services, and integrity monitoring and auditing systems for the regulated gaming markets.
Disclaimer in regards to Forward-looking Statements
Certain statements included herein, including those that express management's expectations or estimates of our future performance constitute "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Investors are cautioned not to put undue reliance on forward looking statements. Except as required by law, Amaya does not intend, and undertakes no obligation, to update any forward-looking statements to reflect, in particular, new information or future events.
SOURCE: AMAYA GAMING GROUP INC.For further information:
Mr. David Baazov, President and Chief Executive Officer, Amaya Gaming Group Inc.
North America: 1-866-744-3122