This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Bellus Health investor Victoria Square buys shares 2009-09-10 18:12 ET - News Release Mr. Peter Kruyt of Victoria Square reports VICTORIA SQUARE VENTURES INC. ACQUIRES SHARES OF BELLUS HEALTH INC. UNDER RIGHTS OFFERING STANDBY COMMITMENT
Victoria Square Ventures Inc. (VSVI) has acquired ownership of
21,621,621 common shares of Bellus Health Inc. at 18.5 cents per
share, representing approximately 20.3 per cent of the outstanding common shares of
Bellus. VSVI acquired the common shares in connection with a rights offering
to holders of Bellus's common shares. In connection
with the rights offering and as previously disclosed, VSVI entered into a
standby purchase agreement with Bellus, pursuant to
which VSVI agreed to purchase such common shares that were not otherwise
purchased under the rights offering for a maximum subscription price of
$4-million. Bellus entered into a substantially equivalent agreement with
Vitus Investments III Private Ltd.
After completion of the transaction described above, VSVI currently owns
28,519,539 common shares of Bellus, representing approximately 26.8 per cent of the
outstanding common shares of Bellus, 21,672,000 Series A 6-per-cent cumulative
convertible preferred shares of Bellus and
$10,807,500 principal amount of senior convertible notes.
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