News Release

Brokered Private Placement

Date: September 16 , 2003

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

International Wex Technologies Inc. (the "Company") announces that, on Friday, September 5, 2003, it entered into an engagement letter (the "Agreement") with Jennings Capital Inc., a national investment dealer headquartered in Calgary, Alberta, to act as exclusive agent (the "Agent") for the purpose of effecting, on a "best efforts" basis, a private placement of a minimum of $3,500,000 and a maximum of $7,500,000 of Units, each Unit consisting of one common share and a two-year warrant to purchase a common share. The Agent may make co-brokerage arrangements with other investment dealers.

The Agreement provided for the price of the Unit not to exceed $1.75 per Unit without the approval of the Agent, with warrant exercise prices of $2.00 for the first 12 months and $2.40 thereafter and a Price Reservation Form was submitted on this basis to the TSX Venture Exchange after the closing of trading on Tuesday, September 9, 2003. In light of the market price of the Company's stock since September 5, 2003, the Company and the Agent have agreed, and the Exchange has agreed in principle (subject to compliance with usual requirements) to the Unit offering being made at a price of $1.95 per Unit (based on the closing price on September 8, 2003 less permissible discounts) with warrant exercise prices of $2.30 during the first 12 months and $3.00 for the next 12 months.

The proceeds of the offering will be applied primarily to meet the costs of Phase IIb and Phase III clinical trials in Canada for the Company's drug candidates and for general and administrative expenses.

The Company has undertaken to file an Annual Information Form so that investors will be eligible for a four month hold period under applicable securities rules.

Ms. Donna Shum, Chief Operating Officer and Secretary of the Company said:

"We believe our Company has reached a stage of development where it can attract institutional investors and we are very pleased to be working with Jennings Capital in order to access that sector of the market."

No insider of the Company or registered dealers will be permitted to participate in the offering, which is expected to close on or about October 30, 2003.

The Agent will be paid a commission and will also receive Agent's Warrants to acquire a number of common shares equal to 10% or the number of Units issued as $1.95 per common share exercisable for a period of 24 months.

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: John Olthoff, General Manager

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.