Horizons ETFs announces final valuation for HAX Termination

TORONTO, Feb. 6, 2015 /CNW/ - Horizons ETFs Management (Canada) Inc. ("Horizons ETFs") and its affiliate AlphaPro Management Inc. (the "Manager") previously announced, by way of a press release dated November 28, 2014, that the Horizons Active S&P/TSX 60™ Index Covered Call ETF (the "ETF") would be terminated effective upon the close of business today, February 6, 2015.  The ETF's final net asset values (NAV), distributions and termination proceeds per unit, by class, are as follows:

Horizons Active S&P/TSX 60™ Index Covered Call ETF

Class of Units

Ticker

Ex-

Distribution

NAV

per Unit

Income

Distribution

per Unit

Capital Gains

Distribution

per Unit

Final Net

Proceeds of

Termination

per Unit

Class E

HAX

$10.059580

$0.04518

$0.27291

$10.377670

Advisor Class

HAX.A

$10.073276

$0.03228

$0.25981

$10.365366

 

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 ETF. These proceeds will be paid to the holders of the remaining outstanding units of the ETF on a pro rata basis without further action by those unitholders.  The proceeds of termination were paid out today to CDS Clearing and Depository Services Inc.

The ETF did not make its regular monthly distribution declaration for January. Instead, the ETF has included in the termination proceeds, distributions of sufficient net income (including net capital gains) so that it will not be liable for ordinary income tax upon termination of the ETF. The income and capital gains distributions are indicated as per unit amounts in the table above. The net proceeds of termination paid to each unitholder is the sum of the ex-distribution NAV per unit plus the income and capital gains distributions per unit indicated in the table above and represents the remaining net assets of the ETF.

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. Horizons ETFs has more than $4.7 billion of assets under management and with 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 ETFs Management (Canada) Inc.

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

RELATED LINKS
www.horizonsetfs.com

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