Exchange Bulletin

Horizons Cdn Select Universe Bond ETF (HBB) To Trade On Toronto Stock Exchange


May 7, 2014

Horizons Cdn Select Universe Bond ETF (the "ETF") - An application has been granted for the original listing in the Industrial category of 253,750 Class A units (the "Units") of the ETF, all of which will be issued and outstanding upon completion of an initial public offering (the "Offering").

Listing of the Units will become effective at 5:01 p.m. on Wednesday, May 7, 2014 in anticipation of the Offering closing prior to the opening of business on Thursday, May 8, 2014. The Units will be posted for trading at the opening of business on Thursday, May 8, 2014, upon confirmation of the closing.

The ETF is authorized to issue an unlimited number of Units, each of which represents an equal, undivided interest in the net assets of the ETF. Units of the ETF are being issued and sold on a continuous basis and there is no maximum number of Units that may be issued.

Registrations and transfers of Units will be effected through the book-entry only system administered by CDS Clearing and Depository Services Inc. Beneficial owners of Units will not have the right to receive physical certificates evidencing their ownership of the Units. Units must be purchased, transferred and surrendered for redemption only through a CDS participant.

Additional information on the Units may be found in the prospectus dated April 10, 2014 (the "Prospectus"), which is available at www.SEDAR.com. Capitalized terms not otherwise defined herein are as defined in the Prospectus.

Stock Symbol: "HBB" CUSIP: 44052E 10 4 Trading Currency: CDN$



Designated Market Maker: National Bank Financial Inc.
Other Markets: None
Head Office Address: 26 Wellington Street East
Suite 700
Toronto, Ontario M5E 1S2
Website: www.horizonsetfs.com
Email: info@alphapro.com
Head Office Telephone Number: (416) 933-5745
Fax Number: (416) 777-5181
Investor Relations: Martin Fabregas
Tel.: (416) 601-2508
mfabregas@horizonsetfs.com
Chief Financial Officer: Robert Shea
Corporate Secretary: Steven J. Hawkins
Incorporation: The ETF is an open-ended mutual fund established under the laws of the Province of Ontario on April 10, 2014 pursuant to a master declaration of trust.
Manager and Trustee: Horizons ETFs Management (Canada) Inc.
Fiscal Year End: December 31
Nature of Business: The ETF seeks to replicate, to the extent possible, the performance of the Solactive Canadian Select Universe Bond Index (Total Return), net of expenses.
Transfer Agent & Registrar: CST Trust Company at its principal office in Toronto.
Distributions and Automatic Reinvestment: The ETF will not make regular distributions. The ETF will, only when necessary, distribute income in the form of a distribution reinvested into Units of the ETF at the end of a calendar year. Such reinvested Units will then be consolidated so that the number of Units held by an investor after such a distribution will be equal to the number of Units they held the moment before the distribution.

On an annual basis, the ETF will ensure that the net income and net realized capital gains of the ETF have been distributed to Unitholders of the ETF to such an extent that the ETF will not be liable for ordinary income tax thereon. To the extent that the ETF has not distributed the full amount of its net income or net capital gains in cash in any year, the difference between such amount and the amount actually distributed by the ETF in cash will be paid as a "reinvested distribution". Reinvested distributions will be reinvested automatically in additional Units of the ETF in the applicable currency at a price equal to the net asset value per Unit of the ETF and the Units of the ETF will be immediately consolidated such that the number of outstanding Units of the ETF following the distribution will equal the number of Units of the ETF outstanding prior to the distribution.
Initial Issuance of Units: Pursuant to the Prospectus, 253,750 Units will be issued at a subscription price of $40.00 per Unit.