Independent asset management firm Mavrix Fund Management Inc. has filed a final prospectus with securities regulators across Canada for an initial public offering of 5 million common shares.

The initial public offering price is $3.75 per share and the gross proceeds of the offering will be $18.75 million

The net proceeds of the offering are estimated to be approximately $17 million. Approximately $7.3 million will be used to repay all outstanding indebtedness under a credit facility provided to Mavrix by Trilon Bancorp Inc., an indirect shareholder of Mavrix, which has been used to finance Mavrix’s operations.

The balance of the proceeds will be used to finance the payment of DSC commissions to registered dealers, facilitate the development of new products, and acquire additional assets.

The common shares of Mavrix have been conditionally approved for listing on the Toronto Stock Exchange under the symbol MVX. Closing of the initial public offering is scheduled for April 19, 2004.

The initial public offering will be sold by a syndicate of underwriters led by National Bank Financial Inc., and includes Canaccord Capital Corp. and GMP Securities Ltd.