Mavrix Fund Management Inc. Withdraws the Mavrix TSX Venture Fund Offering

    TSX: MVX

    TORONTO, Aug. 22 /CNW/ - Mavrix Fund Management Inc. announced today that
it has withdrawn its Mavrix TSX Venture Fund offering of warranted units each
consisting of one trust unit of the Fund (a "Fund Unit") and one half of one
Fund Unit purchase warrant. Market conditions at present are largely
responsible for this decision.

    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. Mavrix since inception
has been one of Canada's fastest growing fund management companies, and offers
a diverse range of investment products including domestic and global mutual
funds, as well as a family of advantaged flow-through limited partnerships.

    %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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