Mavrix Fund Management Inc. is pleased to announce the initial closing for
the Mavrix Québec 2009 Flow Through LP

TORONTO, Oct. 2 /CNW/ - Mavrix Fund Management Inc. ("Mavrix") is pleased to announce the initial closing of the sale of limited partnership units of Mavrix Québec 2009 Flow Through LP (the "Partnership"). Gross proceeds raised were approximately $2.5 million. The Partnership will primarily invest in flow-through shares of resource issuers engaged in mineral or oil and gas exploration primarily in the Province of Québec, with a view to maximizing the tax benefit of an investment in the Units, preserving capital and achieving capital appreciation. The Partnership intends to focus on companies in the intermediate and junior resource sector with advanced exploration programs. A second closing of the offering is scheduled to occur on or about October 29, 2009.

Mavrix is the manager and portfolio advisor of the Partnership.

The maximum size of the offering is $20,000,000. The syndicate for the offering is being led by Desjardins Securities Inc. with other syndicate members including CIBC World Markets Inc., BMO Capital Markets, Canaccord Capital Corporation, Dundee Securities Corporation, Industrial Alliance Securities Inc., Laurentian Bank Securities Inc., GMP Securities L.P. and Wellington West Capital Markets Inc.

This offering is only made by prospectus. The prospectus related to this offering contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from Richard Huang, Desjardins Securities Inc., at (416) 867-3566 or richard.huang@vmd.desjardins.com. and also from Mavrix Fund Management Inc., Raymond Steele, Chief Financial Officer. Direct: 416-365-4071, Toll Free: 1-888-964-3522 or E-mail:rsteele@mavrixfunds.com. Investors should read the prospectus before making an investment decision.

    
    About Mavrix Fund Management Inc.
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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.

SOURCE MAVRIX FUND MANAGEMENT INC.

For further information: For further information: Mavrix Fund Management Inc. at (416) 362-3077, 1-888-964-3533 or www.mavrixfunds.com

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MAVRIX FUND MANAGEMENT INC.

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