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Horizons ETFs Announces Temporary Suspension of New Subscriptions for Shares of HOU and HOD

TORONTO – April 21, 2020 – In response to the extreme volatility in crude oil markets, Horizons ETFs Management (Canada) Inc. (the “Manager”) has announced today, that it will not be accepting new subscriptions for shares of the BetaPro Crude Oil 2x Daily Bull ETF (“HOU”) and the BetaPro Crude Oil -2x Daily Bear ETF (“HOD”, and together with HOU, the “ETFs”), which trade on the Toronto Stock Exchange under the ticker symbols HOU and HOD respectively.

The Manager accepted all subscriptions received this morning before the 9:30am deadline and has now suspended new subscriptions for shares of the ETFs until further notice. Redemptions will continue to be accepted in the normal course.

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

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

The Manager will advise as soon as there are any further developments with respect to the ETFs.

For investor inquiries:
Contact Horizons ETFs at 1-866-641-5739 (toll-free) or (416) 933-5745

For media inquiries:
Contact Jonathan McGuire
Corporate Communications Manager
Horizons ETFs Management (Canada) Inc.
(416) 640-2956

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