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Horizons ETFs Announces Temporary Suspension of New Subscriptions for Units of BetaPro S&P 500 VIX Short-Term Futures™ Daily Inverse ETF (HVI)

Toronto – February 27, 2018 – Horizons ETFs Management (Canada) Inc. (the “Manager”) has announced today that it will not be accepting any new subscriptions for units of the BetaPro S&P 500 VIX Short-Term Futures™ Inverse ETF (“HVI”), which trades on the Toronto Stock Exchange under the ticker symbol HVI

Due to a change in business, operations and affairs of HVI, the Manager does not expect HVI to be able to meet its current stated investment objective after the close of trading today. Accordingly, the Manager has suspended new subscriptions until further notice. Redemptions on HVI will continue to be accepted in the normal course. After the close of trading today, it is anticipated by the Manager that the performance of HVI will only correspond to approximately one-half times the inverse (opposite) multiple of the daily performance of the S&P 500 VIX Short Term Futures Index.

The Manager anticipates that purchases of new units at the available offer price on the secondary market are not expected to be reflective of the underlying net asset value per unit. The Manager anticipates that the secondary market will continue to provide holders of units with a forum to sell units at a price reflective of the net asset value per unit.

It is imperative to note that units of HVI are expected to trade at a substantial premium to their net asset value while subscriptions of new units are suspended. As a result, the Manager strongly discourages investors from purchasing units of HVI at this time.

The Manager is assessing various courses of action with respect to HVI, and currently intends to call a special meeting of unitholders of HVI as soon as practicable, in order to amend HVI’s investment objectives. Should such a change to the investment objective not prove to be practicable, the Manager will consider other courses of action with respect to HVI. Any course of action with respect to HVI will be taken in accordance with the declaration of trust of HVI, and in accordance with applicable securities law.

If the Manager pursues a change to the investment objective of HVI, the Manager currently anticipates that the investment objective would change from seeking to correspond to one times the inverse (opposite) multiple of the daily performance of the S&P 500 VIX Short Term Futures Index to seeking to correspond to one-half times the inverse (opposite) multiple of the daily performance of the S&P 500 VIX Short Term Futures Index.

The Manager will advise if there are any further developments with respect to HVI.

About Horizons ETFs Management (Canada) Inc.
Horizons ETFs Management (Canada) Inc. is an innovative financial services company and offers one of the largest suites of exchange traded funds in Canada. The Horizons ETFs product suite includes a broadly diversified range of solutions for investors of all experience levels to meet their investment objectives in a variety of market conditions. Horizons ETFs currently has more than $9.9 billion of assets under management and 82 ETFs listed on the Toronto Stock Exchange. Horizons ETFs Management (Canada) Inc. is a member of the Mirae Asset Global Investments Group.

For investor inquiries:
1-866-641-5739 (toll-free) or (416) 933-5745
info@horizonsetfs.com

For press or other inquiries:
Mark Noble, Head of Sales Strategy
Horizons ETFs Management (Canada) Inc.
(416) 640-8254
mnoble@horizonsetfs.com

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