WNX Warnex

Warnex Inc. (TSX VENTURE:WNX.H) ("Warnex" or the "Company") provides the
following strategic update related to its recent activities.


In December 2012, as previously announced, the Company sold the last of its
operating divisions. Since that time, in the context of the Company's ongoing
assessment of strategic alternatives, management has been focused on reducing
all corporate expenses. In this regard, Warnex is pleased to report that it has
successfully concluded two transactions pursuant to which it has: (i) terminated
the long-term lease for its Laval, Quebec facilities (the "Lease") against a
one-time payment of approximately $893,000 made to the landlord; and (ii) sold
all of the shares of one of its non-operating subsidiaries (the "Subsidiary")
for a nominal payment, as well as a promissory note owing by the Subsidiary to
Warnex in the amount of $50,000 at its face value. As a result of these two
transactions, Warnex has successfully eliminated all future obligations under
the Lease, which had an expiration date of January 31, 2018, and simplified its
remaining corporate structure. The net cash savings to Warnex resulting from
these two transactions is approximately $3,000,000 in future lease-related
obligations.


"The termination of our long-term lease is a key component of the strategic
review process, which serves to significantly and immediately reduce our current
operating expenses and provides us greater flexibility to complete our ongoing
strategic review," remarked Michael Singer, Chairman of Warnex. "With this
milestone complete, we continue to aggressively explore a number of strategic
options, including but not limited to a possible wind-up of the company, and
expect to make a recommendation to shareholders in early 2014." 


As a result of the termination of the Lease, Warnex has moved its corporate head
office to 1375 TransCanada Highway, Suite 200, Dorval, Quebec.


CAUTION REGARDING FORWARD-LOOKING STATEMENTS

Certain statements contained in this news release regarding the ongoing
strategic review and future plans for Warnex are forward-looking and are subject
to numerous risks and uncertainties, known and unknown. In addition to the
various risks and uncertainties set out in the Risk and Uncertainties section of
Warnex's Management's Discussion and Analysis, which can be found under Warnex's
profile at www.sedar.com, the timing, nature and impact of any course of action
that management of Warnex may decide to carry out with respect to the remaining
assets of the Company is uncertain at this time.


Neither NEX nor its Regulation Services Provider (as that term is defined in
policies of the NEX) accepts responsibility for the adequacy or accuracy of this
release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Michael Singer
Chairman of the Board of Directors, Warnex Inc.
(514) 940-3610
info@warnex.ca

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