Mavrix Fund Management Inc. has retained legal and financial advisors to assist it in connection with the proposed offer from GrowthWorks Ltd., Mavrix said Wednesday.

Growthworks, through a wholly-owned subsidiary, has offered to acquire all of the outstanding common shares of Mavrix at a price of 25¢ a share.

Earlier this month, Mavrix announced it has entered into a letter of intent with GrowthWorks in connection with the offer.

GMP Securities L.P. has been retained as financial advisor to the special committee of the Mavrix board of directors and Gowling Lafleur Henderson LLP has been retained as legal advisor to the special committee.

Mavrix also announced that at its annual meeting of shareholders held on May 12, that Mal Spooner, Raymond Steele, William Shaw, A. Kirk Purdy, Kenneth R. Yurichuk, Martine Guimond and Pierre Saint-Laurent were re-elected as directors o hold office until the next annual meeting of shareholders.

Smith Nixon LLP was appointed as the auditors of the corporation.

IE