WEX Pharmaceuticals Inc.

WEX Pharmaceuticals Inc.

August 17, 2005 18:55 ET

WEX Pharmaceuticals Inc.: Appointment of Interim Chief Financial Officer

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 17, 2005) - WEX Pharmaceuticals Inc. (TSX:WXI) ("WEX" or the "Company") today announced that Michael Perri, Chief Financial Officer, has resigned from his position with the Company for personal reasons. A search for a replacement is currently underway. In the meantime, the Board of Directors has appointed Michael Chen, MBA, CPA, as interim CFO. Mr. Chen will serve the Company on a part-time basis until a permanent successor is named.

Mr. Perri has agreed to remain with WEX to assist during the transitional period. We thank him for his contributions to the Company and wish him well in his future endeavors.

Michael Chen was elected a member of the Board of Directors of the Company during the Annual and Special Meeting of Shareholders held on August 12, 2005. He has more than 10 years' extensive finance management experience with large multi-national corporations in China, U.S. and Canada and is currently CFO for Spur Ventures Inc.

About WEX Pharmaceuticals Inc.

WEX Pharmaceuticals Inc. is dedicated to the discovery, development, manufacture and commercialization of innovative drug products to treat moderate to severe acute and chronic pain, symptom pain relief associated with addiction withdrawal from opioid abuse and medicines designed for local anaesthesia. The Company's principal business strategy is to derive drugs from naturally occurring toxins and develop proprietary products for the global market. The Company's Chinese subsidiary sells generic products manufactured at its facility in China.

Forward-Looking Statements

This News Release contains forward-looking statements which may not be based on historical fact. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The company disclaims any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments.

Contact Information

  • WEX Pharmaceuticals Inc.
    Don Evans
    (604) 683-8880 or Toll Free: 1-800-722-7549
    WEX Pharmaceuticals Inc.
    Gordon Stanley
    Corporate Communications
    (604) 683-8880 or Toll Free: 1-800-722-7549
    (604) 683-8868 (FAX)