An anonymous representative of Horizons ETFs Management reports
HORIZONS ETFS ANNOUNCES DATE FOR THE RESUMPTION OF SUBSCRIPTIONS FOR SHARES OF HOU AND HOD
Horizons ETFs Management (Canada) Inc. will, effective as of 8 a.m. ET on May 5, 2020, resume the acceptance of new subscriptions for shares of BetaPro Crude Oil Daily Bull ETF (HOU) and BetaPro Crude Oil -1x Daily Bear ETF (HOD).
On April 21, 2020, the manager announced it was not accepting subscriptions for new shares of HOU or HOD until further notice. Redemptions of shares have continued and will continue to be accepted in the normal course. It is imperative to note that units of HOU and HOD have been trading at a substantial premium to their net asset value and are expected to continue to trade at a premium to their net asset value until the resumption of new subscriptions on May 5, 2020. The manager continues to strongly discourage investors from purchasing shares of HOU and HOD until such time as the shares are no longer trading at a premium to their net asset value, as a result of the previously announced suspension of subscriptions.
Both HOU and HOD have been trading since April 21, 2020, at prices that are not reflective of their underlying net asset value. The manager anticipates this will persist until the resumption of subscriptions on May 5, 2020. Please visit the manager's website to obtain the net asset value for the exchange-traded funds.
A prospectus amendment that reflects the change set out above will be filed following the date of this press release and will be available on SEDAR or at the manager's website.
Investing in shares of the exchange-traded funds: can be speculative; can involve a high degree of risk; and may only be suitable for persons who are able to assume the risk of losing their entire investment. Potential investors in these exchange-traded funds are reminded to read the prospectus, as amended from time to time, and all information available on SEDAR before investing. Investors should continue to monitor their investment daily and, as previously announced by the manager, note that the exchange-traded funds are no longer expected to achieve their stated investment objectives.
The manager will advise as soon as there are any further developments with respect to the exchange-traded funds.
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