Mavrix Fund Management Inc. today announced the initial closing of the Mavrix Québec 2008 Flow Through LP. Gross proceeds raised were approximately $11.4 million. The maximum size of the offering is $25 million.

The LP will invest in a diversified portfolio of flow-through shares issued primarily by mining companies with exploration activities in the province of Quebec. The final closing is scheduled to occur in mid to late June 2008.

Toronto-based Mavrix is the manager and portfolio advisor of the LP.

The syndicate is being led by Canaccord Capital Corp. with other syndicate members including CIBC World Markets Inc., Desjardins Securities Inc., Dundee Securities Corp., Industrial Alliance Securities Inc., Laurentian Bank Securities Inc. and Wellington West Capital Inc.