Mavrix Fund Management Inc.

Mavrix Fund Management Inc.
Matrix Asset Management Inc.
TSX : MTA

Matrix Asset Management Inc.

April 30, 2010 12:47 ET

Mavrix Fund Management Inc. is Pleased to Announce the Initial Closing for the Mavrix Explore 2010-I FT Limited Partnership

TORONTO, ONTARIO--(Marketwire - April 30, 2010) - Mavrix Fund Management Inc. ("Mavrix") is pleased to announce the initial closing of the sale of limited partnership units of the Mavrix Explore 2010-I FT Limited Partnership (the "Partnership"). Gross proceeds raised were $7.36 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 maximum size of the offering is $50,000,000. The next closing of the offering is expected to occur on or about May 31, 2010.

Mavrix is the manager and portfolio advisor of the Partnership.

The syndicate of agents for the offering is being led by Dundee Securities Corporation and includes BMO Nesbitt Burns Inc., Canaccord Financial Ltd., Scotia Capital Inc., Raymond James Ltd., Desjardins Securities Inc., GMP Securities L.P., M Partners Inc., Macquarie Capital Markets Canada Ltd., Wellington West Capital Markets Inc., Industrial Alliance Securities Inc., Queensbury Securities Inc. and Mackie 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 Tétrault LLP.

This offering is made by prospectus and by way of private placement. 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 Montreal. Mavrix is a subsidiary of Matrix Asset Management Inc. (TSX:MTA). Matrix manages combined assets of approximately $3 billion through three operating divisions – institutional asset management, conventional and specialty mutual funds, and venture capital/private equity.

Contact Information

  • Mavrix Fund Management Inc.
    Raymond Steele
    Chief Financial Officer
    (416) 365-4071 or Toll Free: 1-888-964-3533
    rsteele@mavrixfunds.com