News Release

Private Placement Closed

Date: August 22 , 2003

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 the closing of a private placement pursuant to the Company's news release issued on July 22, 2003. Due to oversubscription, the units issued for this private placement has increased from 100,000 units to 110,000 units. Each unit consists of one common share @ $1.60 per share and one non-transferable share purchase warrant entitling the placees to purchase one additional common share @ $1.76 per share & @ $2.11 per share during the first & second year, expiring two years from the closing of the private placement. The Company has received written confirmation from the TSX Venture Exchange on the approval for the closing of this private placement.

	Non-Brokered	Brokered
No. of Shares Issued.........	85,000 shares ............................	25,000 shares
Purchase Price..................	$1.60 per share .............................	$1.60 per share
Hold Period......................	One Yr. expiring Aug.16,2004 .........	One Yr. expiring Aug.16,2004
Warrants.........................	250,000 share purch. warrants ...	25,000 share purchase warrants
Warrants Exercise Price....	$1.76 in the first year ....................	$1.76 in the first year
......................................	$2.11 in the second year ...............	$2.11 in the second year
......................................	Expiring Aug. 15, 2003 . .................	Expiring Aug. 15, 2003
No. of Placees..................	9 placees ..................................	1 placee
Finder/Agent....................	None ..........................................	Union Securities Ltd.
Finder`s/Agent`s Fee.......	None ..........................................	$4,000.00 cash

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 substances using its proprietary manufacturing technology.

For additional information on our products, view the Company website at http://www.wextech.ca or call Gordon Stanley at 604-683-8880 or 1-800-722-7549.

Per: Donna Shum, Corporate Secretary

The Canadian Venture Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.