FOR IMMEDIATE RELEASE
January 23, 2002
Burlington, Ontario

THE JENEX CORPORATION ("Jenex" or the "Corporation") (CDNX - JEN), is pleased to announce that the CDNX has accepted for filing the Corporation's Qualifying Transaction, as outlined in its Information Circular dated November 7, 2001 and approved by minority shareholders on December 10, 2001. As a result, at the opening of trading on Wednesday January 23, 2002, the Corporation will no longer be considered a Capital Pool Company.

The Qualifying Transaction involved an amalgamation with Thermolabile Technologies Corporation Inc., of Burlington, Ontario ("Thermo") and was a non-arms' length transaction given that certain directors and officers of the Corporation owned the majority of the issued shares of Thermo.

The amalgamation was valued at approximately $5,252,000, which is based on the deemed issue price of $0.20 per share issued to shareholders of Thermo and the Corporation. After giving effect to the transaction approximately 32,093,895 common shares will be issued and outstanding. The newly amalgamated entity will continue under the name "The Jenex Corporation" and its trading symbol will remain "JEN". Concurrently with closing the Qualifying Transaction the Corporation issued 2,626,056 stock options to its directors, officers, employees, and consultants exercisable at $0.20 per share and expiring five years from date of grant.

About The Jenex Corporation
Headquartered in Burlington, Ontario, the Corporation has developed and patented a thermal therapeutic device for the prevention of cold sores. Patents in fifteen countries, including the United States, Canada, Australia, and the E.E.C protect the technology. A license to market from regulatory, Therapeutic Products Programme (TPP), in Canada has been received to market their thermal therapy device, over-the-counter (OTC) with the claim "For prevention and relief of the symptoms of herpes labialis (cold sores), such as blistering, lesions, inflammation, and discomfort. Also helps alleviate the embarrassment that is typically associated with herpes labialis (cold sore) outbreaks". A medical device number has been issued by TPP, in accordance with Medical Device Regulations. Jenex is the first company to receive clearance to market from a significant regulatory body to make the prevention claim for cold sores.

The Corporation is currently seeking clearance from FDA to make a similar marketing claim in the United States. Management of the Corporation expects a response from the FDA in the 2nd quarter of 2002. Regulatory approvals are being pursued in all European countries and Australia.

Jenex is now seeking a strategic corporate partner to license and commercialize their thermal therapy technology. Several Multi-National Companies have signed Confidentiality Agreements and are in various stages of due diligence.

The HSV-1 virus that causes cold sores, is endemic in North America, and is estimated to affect 80% of the population. As the only product clinically proven to prevent the outbreak of cold sores, the Corporation's thermal therapy product has the potential to dominate a large and underdeveloped market.

"Prevention is the Solution"

For further information, see www.jenexcorp.com or contact:

Michael A. Jenkins, President
The Jenex Corporation
207 - 940 Sheldon Court
Burlington, Ontario
L7L 5K6
Telephone: (905) 632-3830
Facsimile: (905) 632-3774
Email: Jenex@sprint.ca

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