Mavrix Fund Management Inc. Is Pleased To Announce The Final Closing For The Mavrix Explore 2007-II FT LP

    Mavrix Fund Management Inc. (MVX on TSX)

    TORONTO, Oct. 16 /CNW/ - Mavrix Fund Management Inc. is pleased to
announce the final closing of the Mavrix Explore 2007-II FT Limited
Partnership (the "LP"). Gross Proceeds raised were $50.0 million, which
represents the maximum amount of the offering. The LP will invest in a
diversified portfolio of flow-through shares issued primarily by mining
companies with exploration activities in Canada.
    Mavrix Fund Management Inc. has been the manager of twelve prior Resource
Flow-Through Limited Partnerships that raised over $360 million in proceeds.
    The Mavrix Explore 2007-II FT Limited Partnership Initial Public Offering
was co-led by Dundee Securities Corporation, CIBC World Markets Inc., RBC
Capital Markets Inc., and TD Securities Inc. Other syndicate members include
Canaccord Capital Corporation, Scotia Capital Inc., Blackmont Capital Inc.,
Raymond James Ltd., Wellington West Capital Inc., Berkshire Securities Inc.,
GMP Securities L.P., IPC Securities Corporation, Bieber Securities Inc.,
Desjardins Securities Inc., MGI Securities Inc., Argosy Securities Inc.,
Industrial Alliance Securities Inc., and Laurentian Bank Securities Inc.

    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: 00025765E

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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