Horizons ETFs announces ETF closures

TORONTO, Nov. 16, 2012 /CNW/ - Horizons Exchange Traded Funds Inc. ("Horizons ETFs") and its affiliate Horizons ETFs Management (Canada) Inc. (the "Manager") announced today that they will be terminating certain exchange traded funds ("ETFs") effective at the close of business on Friday, January 18, 2013 (the "Termination Date").  The ETFs being terminated (collectively, the "Terminated ETFs") are as follows:

ETF Ticker
Horizons BetaPro S&P/TSX Capped Financials TM Inverse ETF HIF
Horizons BetaPro S&P/TSX Capped Energy TM Inverse ETF HIE
Horizons BetaPro S&P/TSX Global Gold TM Inverse ETF HIG
Horizons COMEX® Copper ETF HUK

Effective today, no further direct subscriptions for units of the Terminated ETFs will be accepted. Monday, January 14, 2013 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 15, 2013, with all units still held by investors being subject to a mandatory redemption as of the Termination Date.

About Horizons Exchange Traded Funds Inc. (www.horizonsetfs.com)

Horizons ETFs is an innovative financial services company offering the Horizons ETFs family of ETFs. 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 $3.5 billion in assets under management and 79 ETFs listed on the Toronto Stock Exchange, the Horizons ETFs family makes up one of the largest families of ETFs in Canada. Horizons ETFs is a subsidiary of Horizons ETFs Management (Canada) Inc. and a member of the Mirae Asset Financial Group.

SOURCE: Horizons Exchange Traded Funds Inc.

For further information:

Martin Fabregas, Investor Relations, (416) 601-2508 or 1-866-641-5739.