News Release

Non-Brokered Private Placement

Date: 2000/06/02

International Wex Technologies Inc. (the "company") announces that due to market conditions, it is canceling the private placement set on May 18, 2000. The company further announces a new non-brokered private placement consisting of 500,000 common shares @ $2.00 per share with two-year warrant to purchase 500,000 common shares @ $2.35 per share during the first year and $2.82 per share during the second year expiring two years from the closing of the private placement. The proceeds from this private placement will be allocated toward the requirement and validation testing of Tetrodin for the IND filing with United States Food and Drug Administration ("USFDA"), Canada Health Protection Branch ("HPB"), The European Agency for the Evaluation of Medicinal Procedure ("EU EMEA") and general working capital. The terms of this private placement are subject to regulatory approval.

Tetrodin(HT) has been developed by the company primarily as a treatment for the symptoms associated with withdrawal from all opiate addictions such as morphine, opium, heroin and methadone. It is a non-narcotic pharmaceutical that has proven to be safe and effective and functions well in both primary withdrawal treatment and abstinence maintenance (longer term use) of drug addiction. The company has also begun tests on the usage of Tetrodin(HT) as a potent analgesic.

For additional information on Tetrodin(HT), view the IWT website at http://www.wextech.ca or call Howard Milne , V. P. Shareholder Communications, at 604-683-8880 or 1-800-722-7549

Per: Donna Shum, Corporate Secretary