GrowthWorks Capital Ltd.

GrowthWorks Capital Ltd.

July 02, 2009 18:29 ET

GrowthWorks Closes Mavrix Acquisition

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 2, 2009) - GrowthWorks(i) is pleased to announce the successful completion of the previously announced plan of arrangement in which 1796862 Ontario Ltd., a wholly-owned subsidiary of GrowthWorks Ltd., has acquired all of the common shares of Mavrix Fund Management Inc. The shares were purchased in cash for $0.25 per share effective as of June 30th, 2009.

About GrowthWorks www.growthworks.ca

GrowthWorks™ managed funds provide investment capital for Canadian companies and tax-advantaged investment opportunities for Canadian investors. GrowthWorks(i) manages approximately $780 million in assets through the Working Opportunity Fund (EVCC) Ltd., GrowthWorks Atlantic Venture Fund Ltd., GrowthWorks Commercialization Fund Ltd. and GrowthWorks Canadian Fund Ltd. (including $95 million upon successful completion of the merger with Canadian Medical Discoveries Fund). GrowthWorks identifies, analyzes and structures investments in companies with high growth potential. Particular emphasis is placed on IT, Life Sciences and Cleantech sectors. Building on more than 17 years of investment expertise, GrowthWorks is a leader in Canadian venture capital management.

(i) GrowthWorks refers to affiliates of GrowthWorks Ltd. and includes: GrowthWorks Capital Ltd. manager of the Working Opportunity Fund (EVCC) Ltd.; GrowthWorks WV Management Ltd., manager of GrowthWorks Canadian Fund Ltd. and GrowthWorks Commercialization Fund Ltd.; GrowthWorks Atlantic Ltd., manager of GrowthWorks Atlantic Venture Fund Ltd. and 1796862 Ontario Ltd. GrowthWorks is a registered trademark of GrowthWorks Capital Ltd.

About Mavrix (www.mavrixfunds.com)

Mavrix Fund Management Inc. (TSX:MVX) is an asset management company founded and operated by experienced portfolio managers. The company offers a focused line-up of concentrated, actively managed funds that aim to complement mainstream funds. Mavrix supports its products by providing financial advisors with regular and direct access to portfolio managers and unbiased commentary, which has enabled the company to become a trusted advisor to its clients. Mavrix is headquartered in Toronto with offices in Halifax, Montreal and Winnipeg.

Contact Information

  • GrowthWorks Capital Ltd.
    Murray Munro
    604.895.7282