TORONTO – July 13, 2022 – Horizons ETFs Management (Canada) Inc. (“Horizons ETFs”) has announced today that it intends to consolidate, as applicable, shares or units (the “Securities” or each individually a “Security”) of certain ETFs (the “Consolidating ETFs”) as indicated in the table below.
After the close of trading on Friday, July 29, 2022, on the Toronto Stock Exchange and the NEO Stock Exchange, the Securities of each Consolidating ETF will be consolidated based on the ratio (the “Consolidation Ratio”) set out below and will begin trading on a post-consolidated basis on Tuesday, August 2, 2022, the effective date of the consolidation:
| ETF Name | Ticker | Consolidation Ratio |
| BetaPro Bitcoin ETF | HBIT / HBIT.U | 1:4 |
| BetaPro Crude Oil Inverse Leveraged Daily Bear ETF | HOD | 1:4 |
| BetaPro Marijuana Companies 2x Daily Bull ETF | HMJU | 1:2 |
| BetaPro S&P/TSX Capped Energy™ -2x Daily Bear ETF | HED | 1:4 |
| Horizons Marijuana Life Sciences Index ETF | HMMJ / HMMJ.U | 1:2 |
| Horizons Psychedelic Stock Index ETF | PSYK | 1:4 |
| Horizons US Marijuana Index ETF | HMUS / HMUS.U | 1:4 |
When a Security consolidation occurs, the net asset value per Security is increased by the same ratio as the Security consolidation so that the Security consolidation has no impact on the value of the investor’s total position. An investor’s cost per Security is also increased by the same ratio as the Security consolidation, although their total cost remains unchanged.
No fractional Securities will be issued. Where the consolidation results in a fractional Security, the number of post-consolidation Securities will be rounded down to the nearest whole Security, in the case of a fractional interest that is less than 0.5, or rounded up to the nearest whole number, in the case of a fractional interest that is 0.5 or greater.
Securityholder Information
Securityholders of the Consolidating ETFs do not need to take any action to affect these transactions. Securityholders will have their brokerage accounts automatically updated to reflect the consolidations. A Securityholder’s broker may take several days to reflect these transactions in the Securityholder’s account (the “Settlement Period”). However, the Securityholder is still able to trade the Securities of the Consolidating ETFs during this time. If they wish to do so, Horizons ETFs recommends investors contact their broker by phone during the Settlement Period in order to trade the post-consolidation Securities.
About Horizons ETFs Management (Canada) Inc. (www.HorizonsETFs.com)
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 over $21 billion of
assets under management and 104 ETFs listed on major Canadian stock exchanges.
For further information:
Contact Horizons ETFs at 1-866-641-5739 (toll-free) or (416) 933-5745
[email protected]
Catégories: Communiqués, Nouvelles
Sujets: Consolidation