Horizons ETFs Management (Canada) is terminating three exchange-traded funds (ETFs) effective at the close of business on 31 January 2014.
The ETFs being terminated are:
Horizons BetaPro COMEX Copper Bull Plus ETF (HKU)
Horizons BetaPro COMEX Copper Bear Plus ETF (HKD)
Horizons Australian Dollar Currency ETF (ASD)
Effective immediately, no further direct subscriptions for units of the terminated ETFs will be accepted. 27 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 28 January, with all units still held by investors being subject to a mandatory redemption as of the termination date.
Any remaining unitholders of the terminated ETFs as at the termination date will receive the net proceeds from the liquidation of the assets, less all liabilities and all expenses incurred in connection with the dissolution of the terminated ETFs, on a prorata basis.