BELLUS HEALTH ISSUES SHARES IN FINAL PAYMENT FOR THE EXERCISE OF ITS LEASE TERMINATION OPTION
LAVAL, Qc, April 7 /CNW Telbec/ - BELLUS Health Inc. (TSX: BLU) ("BELLUS Health" or the "Company") announced today that it issued approximately 34.2 million common shares of the Company to A.R.E. Quebec No. 2, Inc. ("A.R.E."), the landlord of its Laval, Quebec, premises, at a price of approximately $0.125 per share. The shares were issued as final payment for the deferred rent in the amount of approximately $4.3 million payable by BELLUS Health to A.R.E. following the exercise by the Company of its right to terminate the lease of its Laval premises as of April 7, 2011, as provided in the amended lease agreement dated March 31, 2009 between the Company and A.R.E.
The Company has signed a new lease that will begin on April 8, 2011 at the same premises, for less space.
About BELLUS Health
BELLUS Health is a development-focused health company concentrating on research and development of products that provide innovative health solutions and address critical unmet medical needs. For further information, please visit www.bellushealth.com.
Forward Looking Statements
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: