Horizons ETFs announces non-cash capital gains distribution

TORONTO, March 17, 2014 /CNW/ - AlphaPro Management Inc. ("AlphaPro") and its affiliate Horizons ETFs Management (Canada) Inc. (collectively, "Horizons ETFs") have declared a non-cash capital gains distribution to unitholders of Horizons Enhanced Income US Equity (USD) ETF ("Horizons HEA") as a result of the deemed tax year end which occurred immediately prior to the completion of the merger of Horizons Enhanced US Equity Income ETF ("Horizons HES") into Horizons HEA on Friday, March 14, 2014.

Each of the ETFs is required to distribute any net income and capital gains that they have earned in the tax year. Horizons HES was not in a position to distribute any capital gains. Horizons HEA's capital gains distribution will not be paid in cash but will be reinvested and reported as taxable distributions and will be used to increase each unitholder's adjusted cost base for the respective class of units of Horizons HEA.

The distribution is applicable to all pre-merger Horizons HEA unitholders of record on March 14, 2014 and was payable on the same date.  The non-cash distribution rates of realized capital gains are indicated in the table below:

ETF Name	Class of Units	Ticker Symbol	Non-Cash Capital Gains per Unit
Horizons Enhanced Income US Equity (USD) ETF ^(1)	Class E ($US)	HEA.U	$0.08381
	Class E ($C)	HEA	$0.08381
	Advisor Class ($US)	HEA.V	$0.08034
	Advisor Class ($C)	HEA.A	$0.08034

⁽¹⁾ Distributions for Horizons HEA are declared and paid in U.S. dollars, including those listed under the Canadian dollar traded tickers HEA and HEA.A.

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 $4.0 billion in assets under management and 69 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.