Amaya announces us$ 20 million bought deal private placement

In addition, the company has granted the Underwriters an option to purchase up to 10,000 Units exercisable at any time, in whole or in part, 48 hours prior to the closing date of the Base Offering. If the Underwriters' Option is exercised in full, the total gross proceeds to Amaya will be us$ 30,000,000.

Each Unit will consist of: (i) us$ 1,000 principal amount of unsecured non-convertible subordinated debentures; and (ii) 48 non-transferable common share purchase warrants. 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 Warrant will entitle the holders thereof to acquire one common share of the Company at a price per common share equal to us$ 6.25 at any time up to a period ending January 31, 2016. The underlying securities will be subject to a four-month plus one day statutory resale restriction. The net proceeds of the Offering will be used for general corporate purposes.

The Offering is expected to close on or about February 7, 2013 and is subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange Inc. and the satisfaction of other customary closing conditions.