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


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                              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)

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        NEWS  RELEASE

FOR  IMMEDIATE  RELEASE  AUGUST  20,  2003


                  MFC BANCORP LTD. ANNOUNCES EXERCISE OF OPTION
                           TO ACQUIRE EQUIDYNE SHARES

NEW  YORK  CITY  (September  2,  2003) - - - MFC Bancorp Ltd. (Nasdaq: MXBIF and
Frankfurt  Stock  Exchange:  MFC  GR)  today  announced  that  it  has  given an
irrevocable  notice to exercise its option to acquire 485,844 shares of Equidyne
Corporation  (AMEX:  IJX).   MFC noted that the number of shares to be purchased
pursuant  to  the  exercise of the option is more than three times the number of
Equidyne  shares  owned  of record by the entire current board and management of
Equidyne.   MFC further noted that current board and management of Equidyne have
options  to  acquire  1.7  million shares from Equidyne's treasury, but have not
exercised  them.

MFC  has  nominated  a  slate  of  four  nominees  for  election to the board of
directors  of  Equidyne  at the shareholders' meeting scheduled for September 9,
2003.   MFC's  nominees are supported by Equidyne's largest shareholder, Concord
Effekten  AG.

Shareholders  wishing  to  vote  for MFC's nominees should sign and mail a GREEN
proxy  card.  Shareholders who voted a white proxy card and want to change their
vote can do so by sending in a GREEN proxy card.  For further information on how
to  vote  at  the  shareholders  meeting,  please  call  Georgeson  Shareholder
Communications,  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
at  (604)  683  8286.

About  MFC  Bancorp  Ltd.
- -------------------------
MFC Bancorp Ltd. owns companies that operate in the financial services industry,
specializing  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.
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