10-31-13 6:08 PM EDT | Email Article

Horizons ETFs Announces Closure of Certain ETFs

Canada NewsWire

TORONTO, Oct. 31, 2013 /CNW/ - Horizons Exchange Traded Funds Inc. ("Horizons ETFs") and its affiliate AlphaPro Management Inc. (the "Manager") announced today that they will be terminating two exchange traded funds (collectively, the "Terminated ETFs") effective at the close of business on Friday, January 10, 2014 (the "Termination Date"). The ETFs being terminated are as follows:

ETFTickers
Horizons Crude Oil Yield ETF HOY, HOY.A
Horizons Silver Yield ETF HZY, HZY.A


Effective today, no further direct subscriptions for units of the Terminated ETFs will be accepted. Monday, January 6, 2014 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 de-listed from the Toronto Stock Exchange, at the request of the Manager, at the close of business on or about Tuesday, January 7, 2014.

All units still held by investors will be subject to a mandatory redemption as of the Termination Date. Unitholders will receive the proceeds from the liquidation of the assets, less all liabilities and all expenses incurred in connection with the dissolution of the Terminated ETFs.

For further information visit www.HorizonsETFs.com

About Horizons ETFs Management (Canada) Inc. (www.HorizonsETFs.com)
Horizons ETFs Management (Canada) Inc. and its affiliate AlphaPro Management Inc. are innovative financial services companies offering the Horizons ETFs family of exchange-traded funds. The Horizons ETFs family includes a broadly diversified range of investment tools with solutions for investors of all experience levels to meet their investment objectives in a variety of market conditions. With approximately $4.4 billion in assets under management and 73 ETFs listed on the Toronto Stock Exchange, the Horizons ETFs family makes up one of the largest families of ETFs in Canada. Horizons ETFs Management (Canada) Inc. and AlphaPro Management Inc. are members of the Mirae Asset Financial Group.

 

 

SOURCE Horizons Exchange Traded Funds Inc.

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