Mavrix Fund Management Inc. has withdrawn the Mavrix TSX Venture Graduation Fund offering.

Investor uncertainty, despite favourable valuations, has negatively affected interest in the fund, Mavrix says.

“To proceed with an offering that would result in operating expenses being too high on a per unit basis is unacceptable to Mavrix and the underwriting syndicate.”

Mavrix adds that Mavrix Small Companies Fund is an available alternative with some exposure to the same exciting sector of the market as the fund.

Mavrix says it “will report a significant one time expense in the fourth quarter reflecting the expenses connected with the offering.”