Exchange Bulletin

Horizons Canadian Midstream Oil & Gas Index ETF (HOG) To Trade On Toronto Stock Exchange


July 15, 2014

Horizons Canadian Midstream Oil & Gas Index ETF (the "ETF") - An application has been granted for the original listing in the Industrial category of 515,000 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 Monday, July 14, 2014 in anticipation of the Offering closing prior to the opening of business on Tuesday, July 15, 2014. The Units will be posted for trading at the opening of business on Tuesday, July 15, 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. ("CDS"). 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 July 4, 2014 (the "Prospectus"), which is available at www.SEDAR.com. Capitalized terms not otherwise defined are as defined in the Prospectus.

Stock Symbol: "HOG" CUSIP: 44052H 10 7 Trading Currency: CDN$



Temporary Market Maker: National Bank Financial Inc.
Other Markets: None.
Head Office Address: 26 Wellington Street East
Suite 700
Toronto, ON
M5E 1S2
Email Address: info@horizonsetfs.com
Website: www.horizonsetfs.com
Head Office Telephone Number: (416) 933-5745
Fax Number: (416) 777-5181
Investor Relations: Martin Fabregas
Tel.: (416) 601-2508 Email: 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 July 4, 2014 pursuant to an amended and restated 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 Midstream Oil & Gas Index, net of expenses. The Solactive Canadian Midstream Oil & Gas Index is designed to provide exposure to the equity securities of Canadian oil and gas services companies.
Transfer Agent & Registrar: CST Trust Company at its principal office in Toronto.
Distributions and Automatic Reinvestment: It is anticipated that the ETF will make distributions to its Unitholders on a quarterly basis. Such distributions will be paid in cash, unless a Unitholder is participating in the Reinvestment Plan.

The ETF to the extent required, will also distribute, on an annual basis prior to the end of each year, sufficient net income (including net capital gains) that has not previously been distributed so that each ETF will not be liable for ordinary income tax in any given year and such annual distributions will be automatically reinvested in Units of the applicable ETF, which will then be immediately consolidated such that the number of outstanding Units of the ETF held by each Unitholder on such day following the annual distribution will equal the number of Units of the ETF held by the Unitholder prior to that distribution.
Initial Issuance of Units: Pursuant to the Prospectus, 515,000 Units will be issued at a subscription price of $10.00 per Unit.