Horizons Exchange Traded Funds is terminating two ETFs effective at the close of business on 10 January 2014.
The ETFs being terminated are Horizons Crude Oil Yield ETF and Horizons Silver Yield ETF.
No further direct subscriptions for units of the terminated ETFs will be accepted. Monday 6 January 2014 is expected to be the last date on which a redemption request may be placed with the manager, and the terminated ETFs are expected to be de-listed from the Toronto Stock Exchange, at the request of the manager, at the close of business on or about 7 January.
All units still held by investors will be subject to a mandatory redemption as of the termination date. Unitholders will receive the proceeds from the liquidation of the assets, less all liabilities and all expenses incurred in connection with the dissolution of the terminated ETFs.