Horizons ETFs Completes Corporate Class Reorganization of HHF and HARC

TORONTO, June, 30, 2020 /CNW/ - Horizons ETFs Management (Canada) Inc. ("Horizons ETFs") is pleased to announce that it has completed the reorganization (the "Mergers") of  the Horizons Morningstar Hedge Fund Index ETF ("HHF") and the Horizons Absolute Return Global Currency ETF ("HARC" and together with HHF, the "ETFs"), into Horizons ETF Corp., a multi-class corporate fund structure managed by Horizons ETFs, as approved by unitholders of the ETFs at special meetings held last week. The Mergers were effected after the close-of-business on June 29, 2020.

The Mergers followed a proposal announced by press release on May 22, 2020 and published by the Manager in a circular dated May 18, 2020. Both the press release and the circular are available at www.sedar.com and www.HorizonsETFs.com. Unitholders approved the Mergers at Special Unitholder Meetings held on June 23, 2020.

The corporate class structure preserves all of the benefits offered by the ETFs under their current investment objectives and investment strategies. Under the Mergers, units of each of the ETFs were exchanged on a one-for-one basis for the corresponding number of shares of the equivalent series of Horizons ETF Corp., at the closing net asset value per unit indicated in the table below. The closing net asset value per unit for each ETF on June 29, 2020 is the beginning net asset value per corporate class share on June 30, 2020 for the respective ETFs.

The Mergers are not expected to be taxable events for unitholders of the ETFs provided that, in the case of eligible Canadian resident unitholders who hold units of the ETFs in taxable accounts, such unitholders make a joint election with Horizons ETF Corp. under section 85 of the Income Tax Act (Canada) to have the exchange of their existing trust units for shares of a series of Horizons ETF Corp. take place at the unitholder's tax cost, plus any reasonable costs of disposition.

About Horizons ETFs Management (Canada) Inc. (www.HorizonsETFs.com)

Horizons ETFs Management (Canada) Inc. is an innovative financial services company and offers one of the largest suites of exchange traded funds in Canada. The Horizons ETFs product family includes a broadly diversified range of solutions for investors of all experience levels to meet their investment objectives in a variety of market conditions. Horizons ETFs has over $13 billion of assets under management and 91 ETFs listed on major Canadian stock exchanges.

Commissions, management fees and expenses all may be associated with an investment in exchange traded products (the "Horizons Exchange Traded Products") managed by Horizons ETFs Management (Canada) Inc. The Horizons Exchange Traded Products are not guaranteed, their values change frequently and past performance may not be repeated. The prospectus contains important detailed information about the Horizons Exchange Traded Products. Please read the relevant prospectus before investing.

SOURCE Horizons ETFs Management (Canada) Inc.