News Release

License and Collaboration Agreement Signed

Date: Nov 29, 2002

TSX Venture Exchange Trading Symbol: WXI
http://www.wextech.ca
E-mail: wex@wextech.ca

International Wex Technologies Inc. (the "Company") is pleased to announce that it has successfully completed an arm's length License and Collaboration Agreement with Laboratorios Del Dr. Esteve S.A. ("Esteve") of Barcelona, Spain for the European licensing rights to our products Tetrodin(tm) and Tectin(tm) and their successor products.

Esteve is a mid size privately owned European pharmaceutical company, established in 1929 and has grown to over 2,200 employees with approximately $1 billion Canadian in sales per annum. The License and Collaboration Agreement for Europe involves joint development costs in excess of $62,000,000 Cdn. including an initial up front payment by Esteve of approximately $3,000,000 Cdn., divided equally between a private placement at $2.30 per share and an initial license payment. Further payments are based on milestones met within the EMEA (European Agency for the Evaluation of Medicinal Products) and development costs as they occur. Conditional approval has been received by the TSX Venture Exchange to the private placement. Final acceptance is subject to the submission documentation to the TSX Venture Exchange. In countries where it is deemed a sub-licensee is preferable, the Company would share in the fees obtained by Esteve from their sub-licensee. Once marketing permission is obtained and sales commence, royalty payments would be made against volume sales. The Company retains the exclusive rights to manufacture and supply the drug products to the licensed territory of Europe.

Mr. Frank Shum, President and CEO said, "We are very excited about having partnered with a company of such fine stature, long experience and thorough European regulatory knowledge and marketing. Esteve has many licensing arrangements around the world and this familiarity has provided an education that the Company previously did not have. During this period of negotiation the companies have come to know one another and realize that there are many areas outside of the Agreements where they can complement each other in their activities and knowledge. With this agreement, significant saving in costs and efficiency of time can be obtained as the 3 areas, Europe, China and Canada, will develop in parallel through the regulatory channels and results and tests completed in one area can, in most cases, be useful in the other."

Dr. Antoni Esteve, Director of Scientific and Commercial Operations at Esteve, said "We are extremely glad to have established an Alliance with Wex for the development and marketing of Tetrodotoxin in Europe. This collaboration with such an entrepreneurial high-technology company will enable Esteve to pursue our goals to complete our own R&D pipeline with innovative projects, which bring added value to the medical community and to expand our international activities in other European countries."

In the area of neuro-bioscience, the Company is focusing on the fields of pain management, drug addiction treatment and anaesthesia. The Company is developing products that contain a sodium channel blocking compound and derivatives extracted from natural organic substance using its proprietary manufacturing technology.

For additional information on our products, view the Company website at http://www.wextech.ca or call Howard Milne, V.P. Corporate Communications, at 604-683-8880 or 1-800-722-7549.

Per: Donna Shum, Corporate Secretary

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