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TORONTO, ONTARIO--(Marketwire - May 14, 2010) - Mavrix Québec 2010 Flow Through LP (the "Fund") today announced changes of Mavrix Fund Management Inc. ("Mavrix"), the manager of the Mavrix managed funds (the "Mavrix Funds"), including the Fund, associated with consolidating and streamlining its operations. Effective as of May 8, David Levi has been appointed Chief Executive Officer and President of Mavrix and Murray Munro has been appointed Senior Vice-President, National Sales of Mavrix.

Mr. Levi is the President and Chief Executive Officer of GrowthWorks Ltd., which acquired Mavrix in June 2009. Mr. Levi is also President and Chief Executive Officer of Matrix Asset Management Inc. ("Matrix") (TSX:MTA), the new TSX-listed parent company of both GrowthWorks and Mavrix.

Mr. Levi has over 25 years of investment management and securities industry experience. He is a past two term Chair of Vancity Credit Union, Canada's largest credit union, where he created the original Ethical Growth Fund. Mr. Levi has also held senior positions with investment dealers, including CM Oliver and Global Securities. Mr. Levi has launched, grown and developed a number of investment companies and funds in his career. In 1992, Mr. Levi launched BC's Working Opportunity Fund, the largest venture capital fund in western Canada. In late 1998, he founded GrowthWorks, which manages a number of venture capital funds. He is also a past director of the Canadian Venture Capital Association. Mr. Levi has been on the Board of Directors of Mavrix since its acquisition by GrowthWorks in June 2009.

Mr. Levi will also be appointed as CEO of Mavrix's subsidiaries, including Mavrix Multi Series Fund Ltd., Mavrix Québec 2010 Ltd. (the general partner of the Fund), and the general partners of the other Mavrix flow-through limited partnerships.

Mr. Munro has held senior sales and marketing positions at GrowthWorks since 1998.

Mr. Levi takes on the CEO position from Mal Spooner, and Mr. Munro takes on the SVP, National Sales position from Maria Arra, both of whom have departed the company as a result of these streamlining measures.

Additionally, it is proposed that management and other services currently provided by Mavrix be assigned to Mavrix Management (a division of GrowthWorks Capital Ltd.), a subsidiary of GrowthWorks and an affiliate of Mavrix, which has a variety of registrations in multiple provinces. Portfolio management for the Mavrix Funds will continue to be carried out by Mavrix personnel engaged by Mavrix Management.

Forward-Looking Statements

This news release contains forward-looking statements, including statements about plans, expectations and opinions or other statements that are not statements of fact, for example, statements about changes to fund management operations at Mavrix and GrowthWorks and changes to the mutual fund products offered by Mavrix. These forward-looking statements are based on management's beliefs and assumptions related to the business conditions under which Mavrix and GrowthWorks currently operate, including beliefs and assumptions with respect to levels demand for particular specialty and core mutual funds, economic and market conditions and the impact of such conditions and other factors on fund performance, sales and redemptions. No assurance can be given that such beliefs and assumptions will prove to be correct. Accordingly, actual results may differ significantly from those expressed or implied by such statements due to many factors, including, but not limited to, risks associated with mutual fund sector generally, market, economic and other risks affecting portfolio performance and fund sales and redemptions and changes to regulatory requirements and tax laws. Readers are cautioned not to place undue reliance on forward-looking statements. The forward-looking statements contained in this news release are made as of May 14, 2010. None of Mavrix or GrowthWorks intends to revise or provide updates on these forward-looking statements except as required by applicable securities regulations.