Mavrix Fund Management Inc. is selling 3,036,446 Mavrix Explore 2006-I FT Limited Partnership units for gross proceeds of almost $30.4 million at initial closing today, representing the largest initial closing of a Mavrix resource flow-through limited partnership in history.

As manager of the LP, Mavrix Fund Management Inc. intends to primarily invest the funds raised in flow-through shares in Canada’s burgeoning mining sector as well as oil and gas exploration development companies that offer growth potential. It also plans to provide limited partners the ability to claim certain 2006 tax deductions. A secondary closing is intended to occur on April 28.

Mavrix Fund Management Inc. has been the manager of six prior resource flow-through limited partnerships that have raised over $125 million in proceeds.

The Mavrix Explore 2006-I FT Limited Partnership Initial Public Offering was led by Canaccord Capital Corp. and TD Securities Inc. Other syndicate members include Dundee Securities Corp., Scotia Capital Inc., Berkshire Securities Inc., Blackmont Capital Inc., HSBC Securities (Canada) Inc., Raymond James Ltd., Desjardins Securities Inc., Wellington West Capital Inc., Bieber Securities Inc., Industrial Alliance Securities Inc., Integral Wealth Securities Inc., IPC Securities Corporation, MGI Securities Inc., and Union Securities Ltd.