Mavrix Fund Management Inc. is Pleased to Announce the Initial Closing for the Mavrix Explore 2009-II FT Limited

TORONTO, ONTARIO, Oct 29 (MARKET WIRE) --
Mavrix Fund Management Inc. ("Mavrix") is pleased to announce the initial
closing of the sale of limited partnership units of the Mavrix Explore
2009-II FT Limited Partnership (the "Partnership"). Gross proceeds raised
were $2.887 million. The Partnership will primarily invest in
flow-through shares of resource issuers engaged in mineral or oil and gas
exploration in Canada, with a view to maximizing the tax benefit of an
investment in the Partnership's units, preserving capital and achieving
capital appreciation for limited partners. The Partnership intends to
focus on companies in the intermediate and junior resource sector with
advanced exploration programs. The next closing of the offering is
scheduled to occur on or about November 26, 2009. The maximum size of the
offering is $25,000,000.

Mavrix is the manager and portfolio advisor of the Partnership.

The syndicate for the offering is being led by Dundee Securities
Corporation with other syndicate members including BMO Nesbitt Burns
Inc., CIBC World Markets Inc., Canaccord Capital Corporation, Scotia
Capital Inc., Raymond James Ltd., Blackmont Capital Inc., Desjardins
Securities Inc., GMP Securities L.P., M Partners Inc., Wellington West
Capital Markets Inc., Industrial Alliance Securities Inc., Queensbury
Securities Inc. and Research Capital Corporation.

Mavrix and the Partnership are being represented by Blake, Cassels &
Graydon LLP and the syndicate of agents is being represented by McCarthy
Tetrault LLP.

This offering is only made by prospectus. The prospectus contains
important detailed information about the securities being offered. Copies
of the prospectus may be obtained from any IIROC registered financial
advisor. Investors should read the prospectus before making an investment
decision.

About Mavrix Fund Management Inc.

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.

Contacts:
Mavrix Fund Management Inc.
416-362-3077 or 1-888-964-3533
www.mavrixfunds.com

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