Quebec No. 2 Holdings, LLC

April 08, 2011 18:56 ET

Quebec No. 2 Holdings, LLC: Acquisition of Shares of BELLUS Health Inc.

SEATTLE, WASHINGTON--(Marketwire - April 8, 2011) - Quebec No. 2 Holdings, LLC (the "LLC"), of 1600 Fairview Avenue East, Suite 100, Seattle, WA 98201, today announced pursuant to National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues that on April 7, 2011, the LLC acquired ownership and control of 34,242,911 common shares of BELLUS Health Inc. (the "Company"). The shares were issued to the LLC at the direction of an affiliate of the LLC (the "Affiliate") as payment of amounts owing to the Affiliate under the terms of a lease agreement between the Affiliate and the Company relating to the Company's premises in Laval, Quebec.

As a result of this acquisition, the LLC owns a total of 34,242,911 common shares representing approximately 17.7% of the total number of common shares currently issued and outstanding.

The 34,242,911 shares were issued pursuant to an exercise, by the Company, of previously existing rights to pay a total of approximately $4.3 million in deferred rent and accrued interest to the Affiliate through the issuance of such shares. The LLC has no current intent to acquire additional shares of the Company. Depending on market conditions, the LLC may in the future dispose of some or all of the shares it has acquired. Other than as described above, neither the LLC nor any of its affiliates (including the Affiliate) is currently a party to any agreement in respect of the acquisition, holding, disposition or voting of any securities of the Company.

A copy of the early warning report relating to this transaction is available at www.sedar.com.

Contact Information

  • Quebec No. 2 Holdings, LLC
    Jackie Clem
    (206) 408-1554
    (206) 325-6348