Mavrix Fund Management Inc. Announces Appointment of a New Member to Mavrix Fund's Independent Review Committee

    Mavrix Fund Management Inc. (MVX on TSX)

    TORONTO, Oct. 17 /CNW/ - Mavrix Fund Management Inc. announced the
appointment of Bruce Friesen to the Independent Review Committee ("IRC") for
its mutual funds and limited partnerships.
    The IRC for Mavrix is comprised of three members, all of whom are
independent of Mavrix Fund Management Inc. and its affiliates. Their tenures
on the committee range from 1 year to 3 years. The members are:

    David Scollard, Committee Chair
    D. R. (Bob) Heimler
    Bruce Friesen

    The IRC will implement the requirements of National Instrument 81-107 to
be fully compliant with the new regulations prior to November 01, 2007.

    About Mavrix Fund Management Inc.

    Mavrix is a publicly listed company trading on the TSX under the symbol
MVX. Mavrix is headquartered in Toronto with offices in Halifax, Montreal,
Winnipeg, Calgary, and Vancouver. Mavrix Mutual Funds are distributed solely
through licensed financial advisors and stockbrokers.

    %SEDAR: 00020385E

For further information:

For further information: Raymond Steele, Chief Operating Officer and
CFO, Direct: (416) 365-4071, Toll Free: 1-888-964-3533, Email: or visit our website at

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