NEWS Release

US$5.1 Million Convertible Debentures Closed

Date: June 15, 2004

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

International Wex Technologies ("Wex" or the "Company") is pleased to announce that it's wholly owned subsidiary, Wex Medical Limited, has issued unsecured convertible debentures in the aggregate principal amount of US$5.1 million to 3 investment funds managed by a major Asian financial institution's fund management company and its affiliates. The principal terms of the Debentures were previously disclosed in the Company's news release dated May 17, 2004 .

The Debentures will have a term of 5 years and will carry an annual coupon of 5.5% payable semi-annually. The Debentures will be guaranteed by Wex. The Debentures will be convertible at the option of the holders at any time until maturity into common shares of Wex at a convestion price of CDN$5.00 per share, a bonus amount of 4% of the face value of any of the Debentures converted within the first year. Wex may, at its option, force conversion of the Debentures provided the daily closing price of common shares in Wex equals or exceeds CDN$7.50 per share for 10 copnsecutive trading days.

"We are delighted to have a new institutional financial partner who is experienced in biotech investment in Asia " said Frank Shum, President and CEO. "We are particularly pleased that they have chosen to make this investment after completing extensive due diligence."

International Wex Technologies Inc. is a publicly listed neuro-bioscience company (WXI) 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 Don Evans or Gordon Stanley, Corporate Communications at 604-683-8880 or 1-800-722-7549.

Per: Donna Shum, Corporate Secretary

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