Shareholders of Mavrix Fund Management Inc. have approved the acquisition of the company by GrowthWorks Ltd., Mavrix announced on Wednesday.

At a special meeting of shareholders held Wednesday morning, shareholders approved the previously announced plan for 1796862 Ontario Ltd., a wholly-owned subsidiary of GrowthWorks, to acquire all of Mavrix’s common shares for $0.25 per share in cash.

The acquisition was approved by about 97.39% of the votes cast. Approximately 55.8% of the outstanding common shares were represented in person or by proxy at the meeting.

The deal is set to close on June 30th, pending final court approval and satisfaction of all other conditions to the closing of the arrangement.

IE