Horizons ETFs announces launch of Canadian dollar units and merger of ETFs

TORONTO, Jan. 10, 2014 /CNW/ - AlphaPro Management Inc. ("AlphaPro") and its affiliate Horizons ETFs Management (Canada) Inc. (collectively, "Horizons ETFs"), are announcing the launch of Canadian dollar traded Class E units of the Horizons Enhanced Income US Equity (USD) ETF ("Horizons HEA") and that AlphaPro has filed an amendment to its prospectus seeking to allow the listing of Canadian dollar traded Advisor Class units of Horizons HEA. Class E units and Advisor Class units of Horizons HEA currently trade in U.S. dollars on the Toronto Stock Exchange (the "TSX") under the symbols HEA.U and HEA.V, respectively. The new Canadian dollar traded Class E units and Advisor Class units are expected to be listed under the symbols HEA and HEA.A, respectively and are expected to begin trading on the TSX on or about January 15, 2014.

Additionally, AlphaPro, the manager and trustee of the Horizons Enhanced US Equity Income ETF ("Horizons HES") and Horizons HEA (collectively, the "ETFs"), intends to merge the ETFs on a non-taxable basis (the "Merger").  AlphaPro anticipates the execution of the Merger to occur after the close of business on or about March 14, 2014 (the "Merger Date").

On the Merger Date, the Class E unitholders and Advisor Class unitholders of Horizons HES (units of which are listed on the TSX under the symbols HES and HES.A, respectively) will have their units exchanged for Canadian dollar traded Class E units and Advisor Class units of Horizons HEA, at a ratio to be determined by the respective net asset values per unit ("NAVs") on the Merger Date.

The investment objective and portfolio composition for each of the ETFs is substantially similar. The Merger will allow Horizons ETFs to consolidate the management of the two ETFs and is expected to reduce the costs of operating the ETFs.

Certain statements may constitute a forward looking statement, including those identified by the expression "expect" and similar expressions (including grammatical variations thereof) to the extent they relate to the ETFs. The forward-looking statements are not historical facts but reflect the ETFs, the ETFs' managers or Horizons ETFs' current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations.  These and other factors should be considered carefully and readers should not place undue reliance on the ETFs' forward looking statements. These forward-looking statements are made as of the date hereof and the ETFs do not undertake to update any forward-looking statement that is contained herein, whether as a result of new information, future events or otherwise, unless required by applicable law.

Commissions, trailing commissions, management fees and expenses all may be associated with investments in the ETFs. The ETFs are not guaranteed, their values change frequently and past performance may not be repeated. Please read the prospectus before investing.

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 $4.2 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 ETFs Management (Canada) Inc.

Martin Fabregas, Investor Relations, [phone] or 1-866-641-5739