News Release

Correction

Date: 2000/06/22

International Wex Technologies Inc. (the "company") at the request of the CDNX wishes to correct the statement contained within the news release dated May 16, 2000, regarding Dr. Dongdong Huang. This revised statement is to correct any misreading of the facts. The original statement reads, "expressly authorized by the Canadian Venture Exchange (the "Exchange") to undertake China-related legal work for public companies." In actuality the statement should have reflected that the "CDNX ...simply states that Dr. Huang may provide the British Columbia opinion, which confirms the reliability of the opinion of the PRC counsel, which we would expect that Dr. Huang, acting as counsel for the Exchange listed company, will obtain from PRC counsel for the joint venture partner. Our opinion expressed in the Letter should not, in any way, be construed as our authorization for him to undertake China-related legal work for public companies."

Dr. Huang's revised CV is herewith given:

Dr. Dongdong Huang has been called to the British Columbia Bar since 1992 and has centred his practise on China-related matters. He travels to China frequently, stays in China on average approximately 6 months a year and has worked on many pharmaceutical projects in China.

Dongdong Huang is Associate Counsel with FASKEN MARTINEAU DuMOULIN and principal of D.D. Huang & Associates. As a business lawyer, Dongdong has been recognized as one of the authorities on Chinese law in Vancouver and has acted for many public and private companies in their projects or investments in China. He may provide legal confirmation of opinions given by the People's Republic of China law firms. He also represents a number of large Chinese state enterprises in their business transactions in Canada.

Dongdong is an adjunct professor at Wuhan University Law School in China, a visiting professor at Qingdao University, and a special lecturer at the Lam Centre for International Communication at Simon Fraser University in Canada where he has been teaching series courses on Chinese business and law. He is experienced in China-related legal work for public companies. Dongdong has established a Beijing office in association with a reputable Beijing law firm.

Areas of Practice

Chinese Joint Ventures, Chinese Project Financing, Chinese Contracts, Chinese Business Law and Practice, Securities Law, Corporate and Commercial, and International Arbitration.

Education

B.A. Wuhan University, 1982
LL.B. Wuhan University, 1984
LL.M. University of Ottawa, 1986
LL.B. York University, 1991
LL.D. University of Ottawa, 1992
Admitted to the British Columbia Bar, 1992

Languages

Chinese and English

Professional Activities

Member of Securities and Business Sections of the Canadian Bar Association
Member of Advisory Board of International Wex Technologies Inc.
Director of Chinook Global Technologies Corporation
Director and Secretary General of Manchuria Friendship Association of Canada

Representative Experience

Pharmaceuticals, Bio-tech, and Agriculture

Establishment of a high-tech production facility in British Columbia by a large high-tech biotechnology firm from Taiwan in joint venture with a British Columbia firm and related tax, corporate, and real estate issues
Corporate organization and distributorship agreements in China for the second largest bio-tech company in British Columbia
Joint venture investments and acquisition in Beijing and Nanning Kunming for a CDNX pharmaceutical and medical instrument company
Joint venture investment in handicapped equipment in Wuxi by a CDNX medical equipment company
Wholly-owned investment of 20 million US in ginseng processing and production in China by a major Canadian company listed on the TSE and Nasdaq and related tax, technology protection, employment, and corporate matters
Technical assistance in Guangdong provided by a major laboratory company in British Columbia
Cooperative investment of 100 million US in bio-medical production in Beijing by a BVI company
Joint venture investment in husbandry in Jiangsu by a CDNX company

Telecommunications

Joint venture investment by a major Canadian telecommunications company in cellular messaging for 16 cities in Shandong with secured financing by equipment leasing and guarantee from a Chinese financial institution
Providing legal opinions and drafting contract and articles for a telecommunications investment of 3 million US in China by a company to be listed on NASDAQ
Joint venture investment in computer production line in Shanghai by a CDNX technology company
Cooperative investment in telecommunications and mobile telephone system in Hunan by a US company
Foreign exchange guarantee and import license for a giant US pager and communications company

Industrial and Manufacturing

Equipment sale and commissioning of chemical engineering projects by a major UK company in Shanghai, Wuhan, and Shenyang
Patent licensing and technology transfer by a Chinese research institute to US and Canadian companies on environmental protection and energy saving
Export processing, manufacturing arrangement, and two joint ventures and one wholly-owned foreign company by a major Canadian automobile parts producer in Jiangsu, Hebei, Shanghai, and Beijing, and related confidentiality agreement, protection of intellectual property, dealing with infringements, processing arrangements, ratio for various enterprise funds, share and repatriation of profit, and trade-mark licensing

Mining

Approximately 20 cooperative investments in gold, diamond, silver, lead, zinc, copper, coal, petroleum, and other metal mining and smelting in Hebei, Henan, Shandong, Hubei, Sichuan, Yunnan, Guizhou, Jiangxi, Shanxi, Inner Mongolia, and Qinghai by TSE and CDNX companies

Real Estate

Wholly-owned investment in a cemetery service project in Shanghai by a US company
Mortgage securities by two New York banks for 70 million US in a real estate development in Shanghai by a Canadian developer
Marketing and distribution of an investment fund in China by a major Taiwanese company

International School

Investment and financing of an international school in Dalian by a CDNX company and related management, ownership structure, and employment issues
Listing by RTO of an international school in Guangdong on the CDNX and related real estate, management, ownership structure, and educational issues under Chinese law

Dispute Settlement

Securities and corporate work for a major highway project in Guangdong listed on the CDNX
Settlement of disputes involving a CDNX company in Shandong and related arbitration procedure
Debt collection for an architecture firm from its development zone design work in Shandong
Assisting on a matter involving an investment fund purchased by a Canadian company from the CITIC Group

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