Mavrix Fund Management Inc.

Mavrix Fund Management Inc.
Mavrix Explore 2009-II FT Limited Partnership

Mavrix Explore 2009-II FT Limited Partnership

October 29, 2009 14:03 ET

Mavrix Fund Management Inc. is Pleased to Announce the Initial Closing for the Mavrix Explore 2009-II FT Limited Partnership

TORONTO, ONTARIO--(Marketwire - Oct. 29, 2009) - Mavrix Fund Management Inc. ("Mavrix") is pleased to announce the initial closing of the sale of limited partnership units of the Mavrix Explore 2009-II FT Limited Partnership (the "Partnership"). Gross proceeds raised were $2.887 million. The Partnership will primarily invest in flow-through shares of resource issuers engaged in mineral or oil and gas exploration in Canada, with a view to maximizing the tax benefit of an investment in the Partnership's units, preserving capital and achieving capital appreciation for limited partners. The Partnership intends to focus on companies in the intermediate and junior resource sector with advanced exploration programs. The next closing of the offering is scheduled to occur on or about November 26, 2009. The maximum size of the offering is $25,000,000.

Mavrix is the manager and portfolio advisor of the Partnership.

The syndicate for the offering is being led by Dundee Securities Corporation with other syndicate members including BMO Nesbitt Burns Inc., CIBC World Markets Inc., Canaccord Capital Corporation, Scotia Capital Inc., Raymond James Ltd., Blackmont Capital Inc., Desjardins Securities Inc., GMP Securities L.P., M Partners Inc., Wellington West Capital Markets Inc., Industrial Alliance Securities Inc., Queensbury Securities Inc. and Research Capital Corporation.

Mavrix and the Partnership are being represented by Blake, Cassels & Graydon LLP and the syndicate of agents is being represented by McCarthy Tetrault LLP.

This offering is only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from any IIROC registered financial advisor. Investors should read the prospectus before making an investment decision.

About Mavrix Fund Management Inc.

Mavrix Fund Management Inc. is an asset management company founded and operated by experienced portfolio managers. The company offers a focused lineup 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. Mavrix's parent company is GrowthWorks Ltd. GrowthWorks Ltd. venture capital division specializes in the management and growth of regionally based venture capital funds. GrowthWorks Ltd. has combined assets under management of over $1 billion.

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