Mr. Martin Fabregas reports

HORIZONS ETFS ANNOUNCES CLOSURE OF CERTAIN ETFS

Horizons ETFs Management (Canada) Inc. will be terminating certain exchange-traded funds effective at the close of business on Friday, March 13, 2015. The ETFs being terminated are listed in the attached table.

ETF                                                   Symbol

Horizons BetaPro MSCI Emerging Markets Bull Plus ETF     HJU   
Horizons BetaPro MSCI Emerging Markets Bear Plus ETF     HJD   
Horizons BetaPro MSCI Japan Bull Plus ETF                HPU   
Horizons BetaPro MSCI Japan Bear Plus ETF                HPD   

Effective immediately, no further direct subscriptions for units of the terminated ETFs will be accepted. Monday, March 9, 2015, is expected to be the last date on which a redemption request may be placed with the manager, and the terminated ETFs are expected to be delisted from the Toronto Stock Exchange, at the request of the manager, at the close of business on or about Tuesday, March 10, 2015, with all units still held by investors being subject to a mandatory redemption as of the termination date.

Any remaining unitholders of the terminated ETFs as at the termination date will receive the net proceeds from the liquidation of the assets, less all liabilities and all expenses incurred in connection with the dissolution of the terminated ETFs, on a pro rata basis.