Mavrix Fund Management Inc. today said the initial offering of units in Mavrix Resource Fund 2005 – I Limited Partnership raised $8,424,850.

The initial closing was on February 24. A secondary closing is planned for late March.

Mavrix, the manager of the fund, say it intends to invest the funds in flow through shares primarily in Canada’s mining sector as well as oil and gas exploration development companies that offer growth potential, thus providing Limited Partners the ability to claim certain 2005 tax deductions.

The IPO was led by Canaccord Capital Corp. and TD Securities Inc.. Other syndicate members include Dundee Securities Corp., National Bank Financial Inc., First Associates Investments Inc., HSBC Securities (Canada) Inc., Raymond James Ltd., Berkshire Securities Inc., Bieber Securities Inc., IPC Securities Corp., McFarlane Gordon Inc., Richardson Partners Financial Limited, Union Securities Limited and Wellington West Capital Inc.