Mavrix Funds Management Inc. announced Monday that it has received regulatory approval for the prospectus of Contrarian Resource Fund 2003 No.1 Limited Partnership.

The fund invests in a diversified portfolio of junior and intermediate resource exploration companies and offers tax benefits to investors.

As of May 30, the book is significantly above the required minimum of $5 million and the initial closing of CRF 2003 No. 1 LP is scheduled for June 18.

Members of the Underwriting Syndicate include Canaccord Capital Corp., TD Securities Inc., National Bank Financial Inc., Dundee Securities Corp., HSBC Securities (Canada) Inc., Acumen Capital Finance Partners Ltd., Trilon Securities Corp., Union Securities Ltd., Haywood Securities Inc. and Research Capital Corp.

Regulators in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Nova Scotia approved the prospectus

http://www.newswire.ca/releases/June2003/02/c8090.html