The sale of units of Mavrix Explore 2008-II FT Limited Partnership raised total gross proceeds of $12.5 million.

Mavrix Fund Management Inc., the manager and portfolio advisor, announced the final closing of the LP on Thursday.

The LP will invest in a diversified portfolio of flow-through shares issued primarily by mining companies with exploration activities in Canada.

The initial public offering was led by Canaccord Capital Corp. with other syndicate members including CIBC World Markets Inc., Dundee Securities Corp., BMO Nesbitt Burns Inc., Scotia Capital Inc., TD Securities Inc., Blackmont Capital Inc., M Partners Inc., Raymond James Ltd., Wellington West Capital Inc., Argosy Securities Inc., Desjardins Securities Inc., MGI Securities Inc., and Research Capital Corp.

Toronto-based Mavrix is an asset management company offering a focused line-up of concentrated, actively managed funds that aim to complement mainstream funds.

IE