BELLUS Health Inc. Announces Record Date for $12 Million Rights Offering To Common Shareholders
LAVAL, QC, July 15 /CNW Telbec/ - BELLUS Health Inc. (TSX: BLU) today
announced that it has set August 5, 2009, as the record date for its
previously announced C$12,080,018 rights offering to holders of its common
shares.
Under the terms of the rights offering, one right will be issued for each
common share outstanding as of the record date. Holders of common shares of
BELLUS Health resident in Canada (the "Eligible Shareholders") will be
entitled to exercise rights to subscribe for common shares of BELLUS Health.
Each 0.80 of a right will entitle Eligible Shareholders to purchase one common
share of BELLUS Health at C$0.185 (the "Subscription Price"). The Subscription
Price represents a 25% discount off the volume weighted average price of
BELLUS Health's common shares on the Toronto Stock Exchange during the five
(5) trading days immediately preceding the announcement of the rights offering
on July 7, 2009. The rights will be exercisable until 5 p.m. (Montreal time)
on September 4, 2009.
Each of Victoria Square Ventures Inc. and Vitus Investments III Private
Limited, a corporation whose shares are beneficially owned by Mr. Carlo
Bellini, have entered into separate standby purchase commitments 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 C$4,000,000 each for an
aggregate amount of C$8,000,000.
Due to applicable securities law and regulatory restrictions, only
Eligible Shareholders will be able to exercise rights. Computershare Investor
Services Inc., as the rights agent, will attempt to sell the rights of holders
of common shares other than Eligible Shareholders and remit the proceeds of
any such sale, net of applicable expenses to such other shareholders. Due to
such securities law and regulatory restrictions, the offering is not available
to holders of securities of BELLUS Health other than holders of common shares.
About BELLUS Health
BELLUS Health is a global health company focused on the development and
commercialization of products to provide innovative health solutions to
address critical unmet needs.
To Contact BELLUS Health
For additional information on BELLUS Health and its drug development
programs, please call the Canada and United States toll-free number
1-877-680-4500 or visit the Web Site at www.bellushealth.com.
Certain statements contained in this news release, other than statements
of fact that are independently verifiable at the date hereof, may constitute
forward-looking statements. Such statements, based as they are on the current
expectations of management, inherently involve numerous risks and
uncertainties, known and unknown, many of which are beyond BELLUS Health
Inc.'s control. Such risks include but are not limited to: the impact of
general economic conditions, general conditions in the pharmaceutical and/or
nutraceutical industry, changes in the regulatory environment in the
jurisdictions in which the BELLUS Health Group does business, stock market
volatility, fluctuations in costs, and changes to the competitive environment
due to consolidation, that actual results may vary once the final and
quality-controlled verification of data and analyses has been completed, as
well as other risks disclosed in public filings of BELLUS Health Inc.
Consequently, actual future results may differ materially from the anticipated
results expressed in the forward-looking statements. The reader should not
place undue reliance, if any, on any forward-looking statements included in
this news release. These statements speak only as of the date made and BELLUS
Health Inc. is under no obligation and disavows any intention to update or
revise such statements as a result of any event, circumstances or otherwise,
unless required by applicable legislation or regulation. Please see the Annual
Information Form of BELLUS Health Inc. for further risk factors that might
affect the BELLUS Health Group and its business.
For further information: Michelle Stein, Specialist, Corporate Communications, (450) 680-4573, mstein@bellushealth.com
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