Mavrix Fund Management Inc. announced today that it has adopted a shareholder rights plan effective March 1.

The plan is intended to prevent any person from acquiring more than 20% of the outstanding common shares of Mavrix (or, in the case of 1488750 Ontario Inc. which owns 1,750,000 common shares or approximately 22% of the issued and outstanding common shares) except pursuant to an offer for all of the common shares that remains open for acceptance for at least 60 days.

In a news release, Mavrix said the plan was not adopted in response to any take-over bid that has been made or that is contemplated at this time.

The plan will be submitted to the shareholders of Mavrix for approval at the annual and special meeting of shareholders to be held on May 11.

Mavrix is a rapidly growing Canadian asset management company with shares listed on the Toronto Stock Exchange. Its stock symbol is MVX.