Vitus Investments III Private Limited, Vitus Investments Limited, Carlo Bellini and Rocabe Investments Inc. announce reorganization of their shares of BELLUS Health Inc.

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MONTREAL, July 8, 2014 /CNW Telbec/ - Vitus Investments III Private Limited ("Vitus III"), Vitus Investments Limited ("Vitus"), Carlo Bellini ("Mr. Bellini") and Rocabe Investments Inc. ("Rocabe") announce the following three transfers, to occur in the order set forth below, of 14,542,096 common shares (the "Shares") of BELLUS Health Inc. ("BELLUS"), the whole in connection with a reorganization pursuant to which the indirect beneficial ownership of the Shares for securities law purposes will ultimately be with Mr. Bellini and his brother, Mr. Roberto Bellini, as set forth below (the "Reorganization").

First, Vitus III will transfer to Vitus, the sole shareholder of Vitus III, the Shares (the "First Transfer"). As such, Vitus will acquire direct ownership and control over the Shares, representing approximately 30.7% of the outstanding common shares of BELLUS and as a result of the Reorganization, Vitus III will cease to have ownership and control over any securities of BELLUS.

Second, Vitus will transfer to Mr. Bellini, the sole shareholder of Vitus, the Shares (the "Second Transfer"). As such, Mr. Bellini will acquire direct ownership and control over the Shares, representing approximately 30.7% of the outstanding common shares of BELLUS and as a result of the Reorganization, Vitus will cease to have ownership and control over any securities of BELLUS.

Third, Mr. Bellini will transfer to Rocabe, an entity jointly controlled by Mr. Bellini and his brother, Mr. Roberto Bellini, the Shares (the "Third Transfer"). As such, Rocabe will acquire direct ownership and control over the Shares, representing approximately 30.7% of the outstanding common shares of BELLUS.

Each of the First Transfer, the Second Transfer and the Third Transfer will be effected pursuant to the Reorganisation of the securities of BELLUS by each of Vitus III, Vitus and Mr. Bellini, respectively.

SOURCE: VITUS INVESTMENTS III PRIVATE LIMITED

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