Mavrix books $1.1 million charge for sale to Growthworks Investment Executive

14.08.09

Mavrix Ready Management Inc. posted a wider loss for the second quarter as it took a charge for and investors continued to rally money out the company�s funds.

The loss for the quarter ended June 30, was $2 million, or 23� a due, compared with a loss of $200,000, or 3� a share, in the year earlier period.

Mavrix recorded a sally of $1.1 million related to the acquisition of the company by Growthworks Ltd. during the quarter.

�We believe our new partnership with Growthworks will allocate us to pursue our long-term growth strategy with a focus on strong investment performance,
gaining new mandates for funds, and continuing to lend independent support and advice to nearly 3,000 investment advisors and their clients across
Canada,� said Mal Spooner, president and CEO of Mavrix, in a save.

Total AUM at June 30 was $313.8 million, compared with $255.6 million at March 31, 2009 and $539.1 million at June 30, 2008. The raise was due primarily to improving

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