News Release

Final closing on $10,000,000 Financing Including a fully subscribed overallotment of $4,000,000

Date: January 30, 2004

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

International Wex Technologies Inc. (the "Company") today announced that it has closed a private placement of an additional 1,200,000 units at a price of $5.00 per unit raising gross proceeds of $6,000,000. The private placement was originally announced on December 11, 2003 and was led by Jennings Capital Inc, as agent. The aggregate proceeds raised from the private placement were $10,000,000, $6,000,000 of which closed today and $4,000,000 of which closed on December 30, 2003 as announced previously. The over-allotment option of 800,000 units was exercised in full.

Each Unit consists of one common share and half a warrant. Each whole warrant is exercisable for 24 months at a price of $5.55 in the first year and $6.65 thereafter. The units are subject to a four month hold period expiring May 31, 2004. The Company paid commissions and finders fees in respect of the final closing aggregating $400,325.

The proceeds of the offering will be applied primarily to fund the global development of Tectin™ and for general working capital. The over-allotment will be applied primarily for the development of Tetrodin™ in Canada and additional working capital.

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, is a sodium channel blocker and 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 visit us at http://www.wextech.ca or call Gordon Stanley, Corporate Communications at 604-683-8880, or at 1-800-722-7549.

Per: Donna Shum, Corporate Secretary

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