WEX Pharmaceuticals Inc.

WEX Pharmaceuticals Inc.
CK Life Sciences Int'l.
SEHK : 0775

October 18, 2009 10:00 ET

CK Life Sciences Increases Equity Stake in WEX Pharmaceuticals

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 18, 2009) - CK Life Sciences Int'l., (Holdings) Inc. ("CKLS") of Hong Kong (Hong Kong Stock Exchange Limited Stock Code 0775) and WEX Pharmaceuticals Inc. ("WEX" or the "Company") (TSX:WXI) announced today that CKLS has acquired an additional 116,852,062 restricted voting shares of WEX to bring its holding to 133,179,334 restricted voting shares, or 75.25% of the total outstanding restricted voting shares.

The acquisition was made through the conversion by Pharmagesic (Holdings) Inc., a wholly-owned subsidiary of CKLS, of a $15,600,000 Convertible Debenture of WEX at a price of $0.1409 per share and the issuance of 6,155,197 shares at an average price of $0.2083 per share in lieu of accrued but unpaid interest on the amounts outstanding from time to time under the Debenture from its original date of issue on October 17, 2007 to the conversion date. The 116,852,062 additional restricted voting shares being acquired by CKLS represent 66.02% of the restricted voting shares outstanding after the conversion.

Mr. Alan Yu, Vice-President and Chief Operating Officer of CKLS and Chairman of the Board of WEX said: "CKLS has determined that it is appropriate to exercise its conversion right at this juncture under the terms of the Convertible Debenture. The acquisition of this additional equity stake is being made as a strategic investment." CKLS may in the future increase or decrease its ownership in securities of WEX depending on the business and prospects of WEX and/or CKLS as well as market conditions.

About CK Life Sciences Int'l., (Holdings) Inc.

CK Life Sciences Int'l., (Holdings) Inc. is a listed company on The Stock Exchange of Hong Kong Limited (stock code: 0775). Bearing the mission of improving the quality of life, the Company is engaged in the business of research and development, commercialization, marketing and sale of biotechnology products. Products developed by CK Life Sciences are categorized into the areas of human health and environmental sustainability. CK Life Sciences is a member of the Cheung Kong Group. For additional information, please visit www.ck-lifesciences.com.

About WEX Pharmaceuticals Inc.

WEX Pharmaceuticals Inc. is dedicated to the discovery, development, manufacture and commercialization of innovative drug products to treat pain. The Company's principal business strategy is to derive drugs from naturally occurring toxins and develop proprietary products for the global market.

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