Mavrix Fund Management Inc. Announces Rollover of Three Resource Limited Partnerships

    TORONTO, Feb. 29 /CNW/ - Mavrix Fund Management Inc. ("Mavrix") (TSX:MVX)
announced today that, in connection with the planned dissolutions of three
Mavrix resource limited partnerships ("LP's") consisting of the Mavrix Explore
2006-I FT Limited Partnership (cusip:57774V105), the Mavrix Explore 2006-II FT
Limited Partnership (cusip:57774Y109) and the Mavrix Explore Quebec 2006-I FT
Limited Partnership (cusip:57775A100), it is proposing to transfer all of the
assets of each LP to the Explorer Series of Mavrix Multi Series Fund Ltd. in
exchange for mutual fund shares having the same aggregate net asset value as
that of each of the LP's, subject to regulatory approval.
    The record date for each of the three rollover transactions is February
29, 2008 and the liquidity date is March 25, 2008. Appropriate elections under
applicable income tax legislation will be made for each LP rollover
transaction to occur on a tax-deferred basis.
    It is currently intended that three LP's will be dissolved on or about
March 26, 2008. Ratios for each LP rollover transaction into the Explorer
Series will be communicated at that time. Once confirmed by their investment
dealer, investors will then be able to redeem their Explorer Series shares,
retain them for longer-term growth or switch tax-free into any of the other
series of Mavrix Multi Series Fund Ltd. Remaining invested in the Explorer
Series avoids incurring a potential capital gains tax liability that arises
upon redemption.
    There are six series within the Mavrix Multi Series Fund Ltd. that
provide significant flexibility to suit numerous investment objectives. The
Series currently offered are Canadian Equity Series, Explorer Series, Global
Enterprise Series, Growth Series, Income Series and Short Term Income Series.
The proposed transfers provide the partners of the three LP's with liquidity
and the ability to diversify their investments on a tax deferred basis.
    Investors should consult their financial advisors to determine the
strategy that is most suitable for them to achieve their personal investment
needs and objectives.

    Mavrix Fund Management Inc. is a Canadian asset management company with
shares listed on the Toronto Stock Exchange. Its stock symbol is MVX.

    %SEDAR: 00020385E

For further information:

For further information: David Balsdon, Vice President and
Secretary-Treasurer, 36 Lombard Street, Suite 400, Toronto, Ontario, M5C 2X3,
Toll Free: 1-888-964-3533, Direct: (416) 365-4201, Email:

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