Horizons ETFs to close three ETFs
Horizons Exchange Traded Funds and its affiliate AlphaPro Management are terminating three exchange-traded funds effective at the close of business on 22 March 2013.
The ETFs being terminated are Horizons Gartman ETF (HAG), Horizons Active Income Plus ETF (HAP) and Horizons Active North American Value ETF (HAV).
No further direct subscriptions for units of the terminated ETFs will be accepted. 18 March 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 19 March, 2013.
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.
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