WEX Pharmaceuticals Inc. ("WEX" or the "Company") (TSX:WXI) today announces that
further to its news release dated August 16, 2007, the BC Securities Commission
has granted the Company an order precluding management and other insiders from
trading in the Company's shares pending filing of the Company's interim
financial statements for the first fiscal quarter ended June 30, 2007 along with
the related Management's Discussion and Analysis.


In compliance with regulatory requirements, WEX is disseminating and filing on
SEDAR the attached Notice of Default.


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. The Company's Chinese
subsidiary sells generic products manufactured at its facility in China.


Forward Looking Statements and Information

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.


NOTICE OF DEFAULT

1. WEX Pharmaceuticals Inc. ("WEX") is unable to file its interim financial
statements for its first fiscal quarter-ended June 30, 2007 prior to the filing
deadline of August 14, 2007.


2. The reason for WEX's inability to file the financial statements is that WEX's
acting CFO resigned on August 13, 2007 and did not complete the financial
statements.


3. WEX expects to file the required financial statements by October 14, 2007.

4. The British Columbia Securities Commission may impose an issuer cease trade
order ("CTO") if the financial statements are not filed by October 14, 2007,
which is two months after WEX's filing deadline of August 14, 2007. Further, an
issuer CTO may be imposed sooner if WEX fails to file its Default Status Reports
within the required time limits.


5. WEX intends to satisfy the provisions of Appendix B to CSA Staff Notice
57-301 as long as it remains in default of the financial statement filing
requirements.


6. There is no other material information concerning the affairs of WEX that has
not been generally disclosed as of the date hereof.


Dated the 17th day of August, 2007.

WEX PHARMACEUTICALS INC.

Edge Wang, Authorized Signatory
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