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Horizons ETFs complete reorganization

2019-11-28 07:19 ET - News Release

See News Release (C-HIX) BetaPro S&P/TSX 60 Daily Inverse ETF

Mr. Steve Hawkins reports


Horizons ETFs Management (Canada) Inc. has completed the reorganization of 29 exchange-traded funds listed in the associated table into Horizons ETF Corp., a single multiclass corporate fund structure managed by Horizons ETFs, as approved by unitholders of the ETFs at special meetings held earlier this month. The reorganization was effected after the close of business on Nov. 27, 2019.

Twenty-five of the reorganized ETFs listed in the table are the Horizons' BetaPro suite of ETFs -- a unique-to-Canada ETF structure that offers investors leveraged, inverse and inverse-leveraged exposure to 12 different indices and asset classes. Four of the reorganized ETFs listed, Horizons Gold ETF, Horizons Silver ETF, Horizons Crude Oil ETF and Horizons Natural Gas ETF, are ETFs within Horizons' commodity suite of ETFs, which use swaps and futures contracts in order to obtain commodity exposure.

"Following months of hard work with our advisers, bank counterparties, unitholders and the regulators, we are excited to announce that we have successfully reorganized our BetaPro and commodity suites of ETFs into our new corporate class structure," said Steve Hawkins, president and chief executive officer of Horizons ETFs. "We wanted to keep things as straightforward as possible so none of the investment objectives, names or ticker symbols of the ETFs changed. This new corporate class structure simply allows Horizons ETFs to continue to provide tax-efficient exposure to a variety of popular asset classes."

The reorganized ETFs will begin trading on the Toronto Stock Exchange as a corporate class of ETF shares of Horizons ETF Corp., effective today.

                  (commodity suite of ETFs)                     
ETF name                                               Ticker  
Horizons Gold ETF                                         HUG          
Horizons Silver ETF                                       HUZ          
Horizons Crude Oil ETF                                    HUC          
Horizons Natural Gas ETF                                  HUN          

                   (BetaPro suite of ETFs)                         
ETF name                                               Ticker 

BetaPro Gold Bullion 2x Daily Bull ETF                    HBU   
BetaPro Gold Bullion -2x Daily Bear ETF                   HBD   
BetaPro Crude Oil 2x Daily Bull ETF                       HOU   
BetaPro Crude Oil -2x Daily Bear ETF                      HOD   
BetaPro Natural Gas 2x Daily Bull ETF                     HNU   
BetaPro Natural Gas -2x Daily Bear ETF                    HND   
BetaPro Silver 2x Daily Bull ETF                          HZU   
BetaPro Silver -2x Daily Bear ETF                         HZD   
BetaPro S&P/TSX 60 2x Daily Bull ETF                      HXU   
BetaPro S&P/TSX 60 -2x Daily Bear ETF                     HXD   
BetaPro S&P/TSX Capped Financials 2x Daily Bull ETF       HFU   
BetaPro S&P/TSX Capped Financials -2x Daily Bear ETF      HFD   
BetaPro S&P/TSX Capped Energy 2x Daily Bull ETF           HEU   
BetaPro S&P/TSX Capped Energy -2x Daily Bear ETF          HED   
BetaPro Nasdaq-100 2x Daily Bull ETF                      HQU     
BetaPro Nasdaq-100 -2x Daily Bear ETF                     HQD   
BetaPro S&P 500 2x Daily Bull ETF                         HSU   
BetaPro S&P 500 -2x Daily Bear ETF                        HSD   
BetaPro Canadian Gold Miners 2x Daily Bull ETF            HGU   
BetaPro Canadian Gold Miners -2x Daily Bear ETF           HGD   
BetaPro Marijuana Companies 2x Daily Bull ETF            HMJU  
BetaPro Marijuana Companies Inverse ETF                  HMJI  
BetaPro S&P/TSX 60 Daily Inverse ETF                      HIX   
BetaPro S&P 500 Daily Inverse ETF                         HIU   
BetaPro S&P 500 VIX Short-Term Futures ETF                HUV   

As previously announced on Nov. 12, 2019, Horizons ETFs anticipates that it will complete a similar corporate class reorganization in respect of the 15 ETFs from Horizons ETFs' total return suite of ETFs, after the close of business on Nov. 29, 2019. Following the subsequent reorganization, these 15 total return ETFs will begin trading on the TSX as a corporate class of ETF shares of Horizons ETF on Dec. 2, 2019.

The reorganization, and the subsequent reorganization, are not expected to be taxable events for Canadian resident unitholders of the affected ETFs provided that unitholders with ETF units in taxable accounts make a joint election with Horizons ETF under Section 85 of the Income Tax Act (Canada) for the exchange of their trust units into the corresponding class of ETF shares of Horizons ETF to occur on a tax-deferred basis. Horizons ETFs has established a process to provide assistance to unitholders in taking the necessary steps to file the joint election, which is available free of charge.

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