VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 23, 2005) - WEX Pharmaceuticals Inc. ("WEX" or "the Company") (TSX:WXI) announces that it has finalized the negotiations with its unsecured convertible debenture holders in the aggregate principal amount of US$5.1 million that were issued in June 2004 by the Company's wholly-owned subsidiary, Wex Medical Limited, to 3 investment funds managed by a major Asian financial institution (the "Institution"). Under the amended terms, the Company has agreed with the Institution to repay the debentures in a series of installment payments over the next two years. An initial payment of US$1.02 million will be made prior to December 31, 2005 and the final payment will be made on December 31, 2007.
