News Release

Private Placement Closed

Date: October 30 , 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 that today the TSX Venture Exchange has accepted for closing documentation with respect to a non-brokered private placement announced on August 27, 2003. Details of the private placement are as follows:

Number of Shares Issued: 250,000 common shares.

Purchase Price: $1.75 per share.

Hold Period for Shares Issued: One year hold expiring September 13, 2004.

Warrants: 250,000 share purchase warrants to purchase 250,000 common shares.

Warrant Exercise Price: $2.05 in the first year, $2.46 in the second year
Expiring September 12, 2005

Number of Placees: 15 placees

Insider Participation: Nil

Finder's Fee: 1,500 common shares

International Wex Technologies Inc., a publicly listed neuro-bioscience Company (WXI), is focused on the development and commercialization of innovative drug products, primarily for pain management. The Company's lead compound, Tetrodotoxin, a sodium channel blocker, is the platform for the Company's development of a portfolio of proprietary products in the field of analgesia, drug addiction withdrawal treatment, and local anaesthesia.

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.