Amaya Founder and CEO David Baazov Issues Statement in Respect of AMF Allegations

MONTREAL, March 23, 2016 /CNW/ - On March 23, David Baazov, Founder, President and CEO of Amaya Inc (NASDAQ: AYA; TSX: AYA), issued the following statement:

Yesterday I was served notice that I would be charged by the Autorité des marchés financiers (AMF) alleging that I engaged in market manipulation of Amaya Inc. ("Amaya") shares and that I unlawfully provided non-public information to third parties prior to Amaya's acquisition of the Rational Group Ltd. in 2014. 

These allegations are false and I intend to vigorously contest these accusations.  While I am deeply disappointed with the AMF's decision, I am highly confident I will be found innocent of all charges.

I have always been proud of my reputation for personal integrity and ethical business conduct.  As the founder, President and CEO of Amaya, I want to provide my personal assurance to all our of stakeholders, including our employees in Canada, the US, and Europe, our more than 100 million playing members, vendors, and our public security holders that I am as confident as ever in Amaya's business operations and future prospects.

Finally, on February 1, 2016, I announced my intention to make an all-cash proposal to acquire Amaya at a purchase price presently estimated at CDN$21.00 per common share.  I made this approach to the board of directors ("the Board") of Amaya prior to any knowledge that the AMF would be bringing any allegations against me.  While I have no further comment on the bid process at this time, I am still committed to working with my investor group and the Board to consummate a successful transaction, which I believe is in the best interests of shareholders. 

David Baazov

Cautionary Note Regarding Forward Looking Statements

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and applicable securities laws, including, without limitation, statements regarding Mr. Baazov's intention to acquire Amaya. Forward-looking statements can, but may not always, be identified by the use of words such as "intends", "proposed" and similar references to future periods or the negatives of these words and expressions. These statements are based on the stated intentions of Mr. Baazov and currently available information. They are not guarantees of future events, are based upon assumptions that may not prove to be accurate, and involve certain risks and uncertainties that are difficult to predict, including the risk that no transaction proposal will be made or be consummated, and that the terms of any proposal will be different than those set forth above. Investors are cautioned not to put undue reliance on forward-looking statements. Any forward-looking statement speaks only as of the date hereof, and Mr. Baazov undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.

SOURCE David Baazov

Media Contact: Riyaz Lalani, Bayfield Strategy, Inc., 416-907-9365, [email protected]