BELLUS Health Inc. Announces $12 Million Rights Offering To Common Sh...(tments with BELLUS Health whereby they h...),Health

Date:7/7/2009

tments with BELLUS Health whereby they have agreed, on a separate and individual and not solidary basis, to purchase such of the common shares that are not otherwise purchased under the rights offering for a subscription price of $4,000,000 each for an aggregate amount of $8,000,000.

FMRC Family Trust ("FMRC") (a trust of which Dr. Francesco Bellini, the Chairman, President and Chief Executive Officer of BELLUS Health, is a beneficiary) and a subsidiary of FMRC currently own an aggregate of 5,981,254 common shares of BELLUS Health representing approximately 11.5% of the 52,237,918 outstanding common shares of BELLUS Health and FMRC owns 20,124,000 series A convertible preferred shares of BELLUS Health. Vitus owns $10,307,500 principal amount of convertible notes of BELLUS Health due in 2014. VSVI owns 6,897,918 common shares of BELLUS Health representing approximately 13.2% of the outstanding common shares of BELLUS Health, $10,807,500 principal amount of convertible notes of BELLUS Health due in 2014 and 21,672,000 series A convertible preferred shares of BELLUS Health. If the convertible notes and preferred shares held by Vitus, FMRC, FMRC's subsidiary and VSVI were to be exercised or converted at their current conversion prices at their maturity, FMRC and its subsidiary would hold an aggregate of 33,013,825 common shares of BELLUS Health, representing approximately 9.9% of the outstanding common shares of BELLUS Health, Vitus would hold an aggregate of 103,660,321 common shares of BELLUS Health, representing approximately 31.1% of the outstanding common shares of BELLUS Health, and VSVI would hold an aggregate of 144,698,632 common shares of BELLUS Health, representing approximately 43.4% of the outstanding common shares of BELLUS Health, before giving effect to the issuance of shares in connection with the rights offering or to the conversion or exercise of any of the other outstanding notes, warrants and series A preferred shares of BELLUS Health.

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SOURCE BELLUS HEALTH INC. Copyright©2009 PR Newswire. All rights reserved

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