Mavrix Fund Management Inc. has filed a preliminary prospectus in connection with the initial public offering of the Mavrix TSX Venture Fund.

The prospectus seeks to qualify the distribution of warranted units each consisting of one trust unit of the fund and one half of one fund unit purchase warrant at a price of $10 per warranted unit. Each whole purchase warrant entitles the holder to purchase one fund unit at a price of $10.25 on Aug. 15, 2009.

The fund has been created to provide investors with the potential for capital appreciation through exposure to an actively managed portfolio of growth-oriented, small capitalization companies, selected primarily from the TSX Venture Exchange.

The fund will invest at least 80% of its total assets in issuers either currently listed on the TSX Venture Exchange or which were listed on the TSX Venture Exchange within the last 12 months, but have since graduated to a Toronto Stock Exchange listing.

As part of its investment process, the manager will focus on issuers that have been included in the TSX Venture 50. The fund may also invest up to 20% of its total assets in other small capitalization issuers listed on the TSX.

The maximum size of the offering is $50 million and is being led by Scotia Capital Inc. and Dundee Securities Corp.

Mavrix is the manager of 14 open ended mutual funds and five resource flow-through limited partnerships totalling approximately $760 million in asset under management.