Online game technology-maker Amaya in C$5 mln IPO

* Sells 5 million units at C$1 each

* Canaccord Genuity, Desjardins Securities led offering

TORONTO, July 21 (BestGrowthStock) – Amaya Gaming Group, a
Montreal-based developer of technologies for online gambling,
said on Wednesday it raised C$5 million ($4.81 million) in an
initial public offering it made to finance growth.

Amaya, whose products include server and network-based
gambling and electronic table games, said it sold 5 million
units at C$1 each.

Each unit consists of one common share of Amaya and one
half common share purchase warrant. Each share purchase warrant
entitles the holder to purchase one common share at a price of
C$1.50 for up to 12 months after the closing of the offering.

The offering was completed through a syndicate of agents
led by Canaccord Genuity Corp and which included Desjardins
Securities Inc.

Amaya plans to use the proceeds as well as C$3 million of
subordinated debt financing from Capital Regional et Cooperatif
Desjardins to fund growth.

The company, whose products include Pokerstation, Pokermate
and Mosino automated poker applications, had hoped to raise as
much as C$7.5 million, according to a filing on SEDAR, the
Canadian document filing system for companies.

Shares of Amaya (AYA.V: ) opened trading on the TSX Venture
Exchange on Wednesday. The shares were unchanged at C$1.15

Amaya revenue rose about 20 percent in 2009 over the year
earlier to C$5.9 million. Net profit, however, fell marginally
to C$648,038 from C$673,919 in 2008. In 2007 it posted a loss
of C$1.97 million, according to documents filed to SEDAR.

Amaya was founded in 2004 and has 28 employees.


($1=$1.04 Canadian)
(Reporting by Pav Jordan; editing by Peter Galloway)

Online game technology-maker Amaya in C$5 mln IPO