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Horizons ETFs Assessing Impact of Proposed Federal Tax Changes

TORONTO – March 20, 2019 – Horizons ETFs Management (Canada) Inc. (“Horizons ETFs”) is assessing the potential impact of proposed legislative changes tabled by the Minister of Finance in the Federal Budget on March 19, 2019, on its family of exchange traded funds. Based on its preliminary assessment, Horizons ETFs has determined that the exchange traded funds listed on the table below (the “ETFs”) could be impacted by the changes after their 2019 taxation years.

The proposed legislative changes, which would not take effect with respect to the ETFs until after their respective 2019 taxation years (ending either December 15 or December 31), deal with how certain investment funds are able to allocate income and capital gains to redeeming entities. If the ETFs were to continue to carry on operations after their 2019 taxation years in the same manner as they do currently, the proposed legislative changes could potentially result in taxable distributions to the unitholders of the ETFs in respect of periods after their 2019 taxation years.

Horizons ETFs does not anticipate any impact to the tax treatment of its ETFs for their 2019 taxation years. Horizons ETFs is assessing the potential tax impact on the ETFs after their 2019 taxation years with its legal and tax advisors, as well as other industry participants, and is actively pursuing alternatives to mitigate any potential future tax impact on the ETFs or their unitholders.

Horizons ETFs will provide an update following further assessment of the proposed legislative changes.

ETF Name Ticker
Horizons S&P/TSX 60™ Index ETF HXT
Horizons S&P 500® Index ETF HXS
Horizons S&P/TSX Capped Energy Index ETF HXE
Horizons S&P/TSX Capped Financials Index ETF HXF
Horizons Cdn Select Universe Bond ETF HBB
Horizons US 7-10 Year Treasury Bond ETF HTB
Horizons NASDAQ-100® Index ETF HXQ
Horizons EURO STOXX 50® Index ETF HXX
Horizons Cdn High Dividend Index ETF HXH
Horizons S&P 500 CAD Hedged Index ETF HSH
Horizons US 7-10 Year Treasury Bond CAD Hedged ETF HTH
Horizons Intl Developed Markets Equity Index ETF HXDM
Horizons Conservative TRI ETF Portfolio HCON
Horizons Balanced TRI ETF Portfolio HBAL
Horizons Equal Weight Canada REIT Index ETF HCRE
Horizons Laddered Canadian Preferred Share Index ETF HLPR
Horizons Equal Weight Canada Banks Index ETF HEWB
BetaPro S&P 500 VIX Short-Term Futures™ ETF HUV
Horizons Gold ETF HUG
Horizons Silver ETF HUZ
Horizons Crude Oil ETF HUC
Horizons Natural Gas ETF HUN
BetaPro Gold Bullion 2x Daily Bull ETF HBU
BetaPro Gold Bullion -2x Daily Bear ETF HBD
BetaPro Crude Oil 2x Daily Bull ETF HOU
BetaPro Crude Oil -2x Daily Bear ETF HOD
BetaPro Natural Gas 2x Daily Bull ETF HNU
BetaPro Natural Gas -2x Daily Bear ETF HND
BetaPro Silver 2x Daily Bull ETF HZU
BetaPro Silver -2x Daily Bear ETF HZD
BetaPro S&P/TSX 60™ 2x Daily Bull ETF HXU
BetaPro S&P/TSX 60™ -2x Daily Bear ETF HXD
BetaPro S&P/TSX Capped Financials™ 2x Daily Bull ETF HFU
BetaPro S&P/TSX Capped Financials™ -2x Daily Bear ETF HFD
BetaPro S&P/TSX Capped Energy™ 2x Daily Bull ETF HEU
BetaPro S&P/TSX Capped Energy™ -2x Daily Bear ETF HED
BetaPro Canadian Gold Miners 2x Daily Bull ETF HGU
BetaPro Canadian Gold Miners -2x Daily Bear ETF HGD
BetaPro S&P 500® 2x Daily Bull ETF HSU
BetaPro S&P 500® -2x Daily Bear ETF HSD
BetaPro NASDAQ-100® 2x Daily Bull ETF HQU
BetaPro NASDAQ-100® -2x Daily Bear ETF HQD
BetaPro S&P/TSX 60™ Daily Inverse ETF HIX
BetaPro S&P 500® Daily Inverse ETF HIU
Horizons Morningstar Hedge Fund Index ETF HHF


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 family 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 has more than $10 billion of assets under management and 86 ETFs listed on major Canadian stock exchanges. Horizons ETFs Management (Canada) Inc. is a member of the Mirae Asset Global Investments Group.

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

For media inquiries:
Contact Mark Noble
Senior Vice President, ETF Strategy
Horizons ETFs Management (Canada) Inc.
(416) 640-8254

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