Howard Cohen and Patrick du Souich

August 04, 2006 17:53 ET

Howard Cohen and Patrick du Souich: Dissatisfied Shareholders of WEX Pharmaceuticals Inc. Reject Management's Purported Postponement of the Shareholders Meeting

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 4, 2006) - Dr. Howard Cohen and Dr. Patrick du Souich (the "Dissatisfied Shareholders") announced today that they reject management's purported postponement of the shareholders meeting set for August 11, 2006, as disclosed in WEX Pharmaceuticals Inc.'s ("WEX") press release issued earlier today.

Rules of order for the conduct of meetings provide that: "once a notice of a meeting has been given, it cannot be recalled. The meeting cannot be postponed by another notice. The meeting must actually be convened and then adjourned in the regular manner.

To now purport to postpone by SEVEN WEEKS the meeting that management itself called-only a week before it is scheduled to be held-is patently unfair to WEX shareholders, including those who have made plans to attend, or otherwise vote at, the meeting, and it appears to have been undertaken to disenfranchise the majority of the WEX shareholders from exercising their right to elect directors of their choice or even given the opportunity to reject the proposed postponement."

The Dissatisfied Shareholders intend to proceed with the shareholders' meeting originally called by management. Shareholders are encouraged to either attend the meeting in person, at the Board Room of Fasken Martineau DuMoulin, 2100- 1075 West Georgia Street, Vancouver, British Columbia, Canada on August 11, 2006 at 10:00 am, or vote their YELLOW PROXY by telephone or the Internet, or fax it to the Dissatisfied Shareholders, before 10:00 p.m. (Vancouver time) on Tuesday, August 8, 2006. DO NOT VOTE BY MAIL. Shareholders may vote the YELLOW PROXY even if they have previously submitted a proxy in support of Management; it is the later-dated proxy that will be voted at the Meeting.

The Dissatisfied Shareholders intend to vote against any resolution to adjourn or postpone the meeting. CHANGE IS NEEDED NOW TO SAVE WEX!

THE OFFICE OF THE DISSATISFIED SHAREHOLDERS WILL BE OPEN ALL WEEKEND. PLEASE CALL 1-866-311-3805 IF YOU HAVE ANY QUESTIONS.

The Dissident Proxy Circular is available on www.sedar.com under WEX's profile, and at www.votenewboard.com.

This press release does not constitute a proxy solicitation.

Contact Information