UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C.  20549
                            SCHEDULE 14A INFORMATION

                    Proxy Statement Pursuant to Section 14(a)
                     of the Securities Exchange Act of 1934

Filed  by  the  Registrant                            [ ]
Filed  by  a  Party  other  than  the  Registrant     [x]

Check  the  appropriate  box:

[ ]     Preliminary  Proxy  Statement
[ ]     Confidential,  for  Use  of  the  Commission Only (as permitted by Rule
         14a-6(e)(2))
[ ]     Definitive  Proxy  Statement
[x]     Definitive  Additional  Materials
[ ]     Soliciting  Material  Under  Rule  14a-12

                              EQUIDYNE CORPORATION
                (Name of Registrant as Specified in its Charter)

                                MFC BANCORP LTD.
    (Name of Person(s) Filing Proxy Statement, if other than the Registrant)

Payment  of  Filing  Fee  (Check  appropriate  box):

[x]     No  fee  required.
[ ]     Fee  computed  on  table  below  per Exchange Act Rules 14a-6(i)(4) and
        0-11.
        1)   Title of each class of securities to which  transaction  applies:
        2)   Aggregate  number  of  securities to which  transaction  applies:
        3)   Per unit price or other underlying value of transaction computed
             pursuant to  Exchange  Act  Rule  0-11  (Set  forth the amount on
             which the filing fee is calculated  and  state  how  it  was
             determined):
        4)   Proposed  maximum  aggregate  value  of  transaction:
        5)   Total  fee  paid:

[ ]     Fee  paid  previously  with  preliminary  materials.
[ ]     Check  box if any part of the fee is offset as provided by Exchange Act
        Rule  0-11(a)(2)  and  identify the filing for which the offsetting fee
        was paid previously.  Identify  the  previous filing by registration
        statement number, or the  Form  or  Schedule  and  the  date  of  its
        filing.
        1)   Amount  Previously  Paid:
        2)   Form,  Schedule  or  Registration  Statement  No.:
        3)   Filing  Party:
        4)   Date  Filed:



FOR  IMMEDIATE  RELEASE  AUGUST  20,  2003


 MFC BANCORP LTD. ANNOUNCES FAVOURABLE COURT RULING, FILING OF DEFINITIVE PROXY
                    STATEMENT RELATED TO EQUIDYNE CORPORATION


NEW  YORK  CITY  (August  20,  2003)  -  - - MFC Bancorp Ltd. (Nasdaq: MXBIF and
Frankfurt  Stock  Exchange: MFC GR) today announced the Court of Chancery of the
State  of  Delaware  has  granted MFC's application and will order that Equidyne
Corporation  (AMEX:  IJX)  ("Equidyne"  or  "the  Company") hold a shareholder's
meeting  on September 9, 2003 ("the Meeting").  MFC's court application had been
opposed  by  Equidyne.

     MFC  further  announced that it has filed a definitive proxy statement with
the  Securities  and  Exchange  Commission  nominating  various  individuals for
election  to  the  Board  of Directors of Equidyne and that it will now begin to
solicit  proxies  for  the  Meeting.

     MFC  believes  that  Equidyne's  current  Board  of Directors has destroyed
shareholder value and has operated the Company in the interests of management as
opposed  to  shareholders.  As such, MFC, with the support of Equidyne's largest
shareholder,  is  proposing  to  replace  the  current  Board  of  Directors.

     MFC  also  noted that according to recent filings made by Equidyne with the
SEC,  the  Company's  three senior managers received, in aggregate, salaries and
bonuses  in  excess  of  $800,000 for the year ended July 31, 2003.  The current
Board of Directors and management of the Company own, in aggregate, only 148,300
shares  of  Equidyne,  or  less  than  1  %  of  the  shares  outstanding.

     Michael  Smith,  President  of  MFC,  remarked  "We  have received terrific
support  from  Equidyne  shareholders  since  we  filed  our  preliminary  proxy
statement,  and we are very pleased that we can now begin to solicit proxies for
the  meeting  in  September.  Recent  actions  and  public  disclosure  have re-

                                 MORE-MORE-MORE



MFC  BANCORP  LTD.  ANNOUNCES  FAVOURABLE  COURT  RULING
Page  2-2-2

enforced our resolve to replace the Company's Board.  Equidyne only had revenues
of  $14,000  in  its  most  recently  reported  fiscal  quarter,  yet management
continues  to pay themselves excessive compensation.  Management has also caused
the  Company  to breach Delaware law by not scheduling its shareholders' meeting
on  time  and to breach Delaware law again by refusing to provide us with timely
access to its shareholders list.  We believe that recent actions, such as hiring
new  financial  advisors,  engaging  special counsel and awarding almost 100,000
options  to  a  new  director,  further  erode  the  Company's  assets  and  are
principally  aimed  at  preserving  management's  jobs.  We  look  forward  to
establishing a reconstituted board of directors for the Company, which will work
positively  towards  enhancing  shareholder  value.  In  the  meantime,  we have
demanded  that  the  Company  take  no actions outside of the ordinary course of
business  until  the  Meeting  is  held."

     For  information  on  how  to vote at the shareholders meeting, please call
Georgeson  Shareholder  Communciations, Inc. toll free at (877) 668-1646 or call
collect  at  (212)  440-9800.  For  information  about  MFC, please contact Rene
Randall  or Roy Zanatta in North America at (604) 683 8286 or Manuel Hertweck in
Germany  at  +  (49  30)  20  94  58  00.

About  MFC  Bancorp  Ltd.
- -------------------------
     MFC  Bancorp  Ltd.  owns  companies  that operate in the financial services
industry,  specialising  in  merchant banking internationally. To obtain further
information  on  the  Company,  please  visit its web site at www.mfcbancorp.com

Certain  statements  included herein are "forward-looking statements" as defined
in  the  Private  Securities  Litigation  Reform Act of 1995.  Management of MFC
cautions  that  forward-looking  statements  are  not guarantees and that actual
results  could  differ  materially  from  those  expressed  or  implied  in  the
forward-looking  statements.  Important  factors  that  could  cause  the actual
results  of  operations or financial condition of MFC to differ include, but are
not  necessarily  limited to, the risks and uncertainties discussed in documents
filed  by  MFC  with  the  Securities  and  Exchange  Commission.

                                    # # # #