Victoria Square Ventures Inc. - Note held by Victoria Square Ventures Inc. converted into common shares of BELLUS Health Inc.

MONTRÉAL, Jan. 1, 2016 /CNW Telbec/ - Victoria Square Ventures Inc. ("VSVI"), a wholly owned subsidiary of Power Corporation of Canada, issues this press release pursuant to applicable requirements of Canadian securities legislation. VSVI announces that the $10,930,243 non-interest bearing note (the "Note") of BELLUS Health Inc. (the "Company") held by VSVI, has been converted at its maturity today, pursuant to its terms, into 7,286,828 common shares of the Company ("Common Shares").

Immediately prior to conversion of the Note, VSVI owned 10,489,003 Common Shares, representing approximately 22.1% of the issued and outstanding Common Shares. Upon conversion of the Note, VSVI owned 17,775,831 Common Shares, representing approximately 32.5% of the issued and outstanding Common Shares.

VSVI holds Common Shares for investment purposes and, in accordance with applicable securities laws, it may increase or decrease its investment in the Company depending on market conditions and other relevant factors.

SOURCE VICTORIA SQUARE VENTURES INC.

or to obtain a copy of the early warning report filed by VSVI in connection with the above, which is also available on www.sedar.com, please contact: Peter Kruyt, Chairman, President and Chief Executive Officer, Victoria Square Ventures Inc., 751 Victoria Square, Montréal, Québec, H2Y 2J3, Telephone: [phone]