TORONTO, Oct. 23, 2015 /CNW/ - Horizons ETFs Management (Canada) Inc. ("Horizons ETFs"), the manager and trustee of the exchange traded funds listed below (the "ETFs"), has announced today that it intends to consolidate the units of the ETFs as indicated in the table below.

Unit Consolidations

After the close of trading on Wednesday, November 25, 2015, on the Toronto Stock Exchange (the "TSX"), the units of the ETFs will be consolidated on the basis of the ratios (the "Consolidation Ratios") set out below, and will begin trading on a post consolidated basis on Thursday, November 26, 2015, the effective date of the consolidations:

When a unit consolidation occurs, the net asset value per unit is increased by the same ratio as the unit consolidation so that the unit consolidation has no impact on the value of the investor's total unit position. An investor's cost per unit is also increased by the same ratio as the unit consolidation, although their total cost remains unchanged.

No fractional units will be issued. Where the consolidation results in a fractional unit, the number of post-consolidation units will be rounded down to the nearest whole unit, 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. Unitholders of the ETF do not need to take any action. Unitholders will have their brokerage accounts automatically updated to reflect the unit consolidations.

Should market conditions change between the date of this announcement and the effective date of the consolidations, Horizons ETFs may elect to cancel or amend one or more of the consolidations indicated in the table above.  Horizons ETFs will issue a subsequent press release advising of any such change no later than November 18, 2015.  If no such press release is issued, it should be assumed that the consolidations will proceed as indicated.

Commissions, trailing commissions, management fees and expenses all may be associated with an investment in the ETFs. The ETFs are not guaranteed, their values change frequently and past performance may not be repeated. Please read the prospectus before investing.

About Horizons ETFs Management (Canada) Inc. (www.HorizonsETFs.com)

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 $5.1 billion of assets under management and with 70 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 Financial Group.

SOURCE Horizons ETFs Management (Canada) Inc.