TORONTO, June 6 /CNW/ - Mavrix Fund Management Inc. (MVX:TSX) announced
today that it has signed a commitment letter for the issuance of $6 million of
debenture financing with VentureLink Financial Services Innovation Fund Inc.
The debenture matures July 2, 2011, will bear interest at 10%, and will
include 600,000 warrants to purchase common shares of Mavrix. The placement is
subject to several conditions and approvals and is expected to close on or
about June 15, 2007.
Mavrix intends to use the proceeds of the placement to purchase the
existing convertible debenture held by VentureLink and for general corporate
For further information:
For further information: Raymond Steele, COO and CFO, Toll Free:
1-888-964-3533, Direct: (416) 365-4071, Email: email@example.com Or
visit our website at www.mavrixfunds.com