TORONTO – April 28, 2017 – Horizons ETFs Management (Canada) Inc. (“Horizons ETFs”) has announced that it has completed the conversion of all advisor-class units of its Canadian-listed exchange trade funds (ETFs) to the corresponding common class units of the same ETF at the end of business today, April 28, 2017 (the “Conversion Date”).

Horizons ETFs, by way of a press release dated December 29, 2016, had previously announced plans to reduce the annual management fee on the advisor-class units by an amount equal to the applicable service fee payable by the Manager in respect of that class of units, and either concurrently or as soon as reasonably practicable thereafter, convert all advisor-class units into common class units of the same ETF.

The remaining unitholders of record of converting advisor-class units as of the Conversion Date will receive a number of whole converted common class units of the same ETF with an aggregate net asset value (“NAV”) equal to the aggregate NAV of the units converted, based on their respective NAVs as of the Conversion Date (the “Conversion Ratio”). The conversion of advisor-class units into whole common class units of the same ETF does not give rise to a disposition by unitholders of converting advisor-class units for tax purposes on any whole units converted. Any remaining fractional advisor-class units will be redeemed for cash and such redemption will be considered a disposition for tax purposes. The Conversion Ratio of advisor-class units to common class units for each ETF is detailed in the table below.

Advisor- Class
Class E (Common)
Advisor- Class
Management Fee
Management Fee
After Conversion Date
HAB.A HAB 1.00% 0.50% 1.001684
HAC.A HAC 1.50% 0.75% 0.970588
HAD.A HAD 0.92% 0.42% 1.000193
HAF.A HAF 0.95% 0.45% 0.999724
HAJ.A HAJ 1.55% 0.80% 1.000301
HAL.A HAL 1.45% 0.70% 1.000747
HAU.A HAU 1.45% 0.70% 1.000175
HAZ.A HAZ 1.55% 0.80% 1.001104
HEA.A HEA 1.40% 0.65% 1.000599
HEA.V HEA.U 1.40% 0.65% 1.000599
HEE.A HEE 1.40% 0.65% 1.006836
HEF.A HEF 1.40% 0.65% 1.004611
HEJ.A HEJ 1.40% 0.65% 1.000317
HEP.A HEP 1.40% 0.65% 0.995883
HEX.A HEX 1.40% 0.65% 1.004115
HFP.A HFP 1.05% 0.55% 0.999888
HFR.A HFR 0.90% 0.40% 1.000939
HGM.A HGM 1.60% 0.85% 0.997091
HGY.A HGY 1.35% 0.60% 1.000085
HHF.A HHF 1.20% 0.45% 0.9581
HMA.A HMA 1.60% 0.85% 0.988591
HMF.A HMF 1.70% 0.95% 0.956829
HMP.A HMP 0.79% 0.29% 1.000167
HNY.A HNY 1.60% 0.85% 1.000682
HPR.A HPR 1.05% 0.55% 1.001569
HSL.A HSL 1.25% 0.75% 0.999463
HUF.V HUF.U 0.90% 0.40% 1.000202
HYI.A HYI 1.10% 0.60% 1.000217

By way of an example, a holder of 1,000 advisor-class units of the Horizons Active Corporate Bond ETF (HAB.A) will receive 1,001 common class units (HAB) of the same ETF based on its Conversion Ratio. Unitholders do not have to take any action to participate in the elimination of the service fee or the conversion described above.

About Horizons ETFs Management (Canada) Inc.
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. Horizons ETFs has more than $7.5 billion of assets under management. With 77 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 Global Investments Group.

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

For other inquiries:
Martin Fabregas, Investor Relations
Horizons ETFs Management (Canada) Inc.
(416) 601-2508 or 1-866-641-5739

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Horizons Announces March 2017 Distributions for its Covered Call ETFs

Horizons ETFs is a Member of Mirae Asset Global Investments. Commissions, management fees and expenses all may be associated with an investment in exchange traded products managed by Horizons ETFs Management (Canada) Inc. (the "Horizons Exchange Traded Products"). The Horizons Exchange Traded Products are not guaranteed, their values change frequently and past performance may not be repeated. The prospectus contains important detailed information about the Horizons Exchange Traded Products. Please read the relevant prospectus before investing.

The Horizons Exchange Traded Products include our BetaPro Products which consist of our 2x Daily Bull and 2x Daily Bear ETFs ("2x Daily ETFs"), Inverse ETFs ("Inverse ETFs") and our VIX ETF (defined below). The 2x Daily ETFs and certain other BetaPro Products use leveraged investment techniques that can magnify gains and losses and may result in greater volatility of returns. These BetaPro Products are subject to leverage risk and may be subject to aggressive investment risk and price volatility risk, which, where applicable, are described in their respective prospectuses. Each 2x Daily ETF seeks a return, before fees and expenses, that is either 200% or -200% of the performance of a specified underlying index, commodity or benchmark (the "Target") for a single day. Each Inverse ETF seeks a return that is -100% of the performance of a Target. Due to the compounding of daily returns, a 2x Daily ETF's or Inverse ETF's returns over periods other than one day will likely differ in amount and, for the 2x Daily ETFs, possibly direction from the performance of their respective Target(s) for the same period. The BetaPro Product whose Target is the S&P 500 VIX Short-Term Futures Index™ (the "VIX ETF"), which is a (1x) VIX ETF, as described in the prospectus, is a speculative investment tool that is not a conventional investment. The VIX ETF’s Target is highly volatile. As a result, the VIX ETF is not generally viewed as stand-alone long-term investment. Historically, the VIX ETF’s Target has tended to revert to a historical mean. As a result, the performance of the VIX ETFs' Target is expected to be negative over the longer term and neither the VIX ETF nor its Target is expected to have positive long term performance. Investors should monitor their holdings, as frequently as daily, to ensure that they remain consistent with their investment strategies.

*The indicated rates of return are the historical annual compounded total returns including changes in per unit value and reinvestment of all dividends or distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. The rates of return shown in the table are not intended to reflect future values of the ETF or returns on investment in the ETF. Only the returns for periods of one year or greater are annualized returns.