VANCOUVER, BRITISH COLUMIBA--(CCNMatthews - April 13, 2007) - WEX Pharmaceuticals Inc. ("WEX" or the "Company") (TSX:WXI) today announces that further to the Company's news release dated September 20, 2006 with regard to the legal proceedings brought against Tianjin Fairwood Mfg. Co. Ltd ("Tianjin") for the recovery of 2,598,425 WEX shares issued to Tianjin, some of which remain held in escrow, WEX recently received Tianjin's defence and counterclaim. In its statement of defence, Tianjin denied the claims alleged by the Company. The counterclaim by Tianjin seeks damages of $3,648,188 in respect of WEX's alleged failure to release shares still held in escrow, and other relief. The Company continues to believe that its claim is valid and consequently that Tianjin's counterclaim is without merit. WEX's legal action is proceeding.
