Exchange Bulletin
Horizons Tactical Absolute Return Bond ETF (HARB, HARB.J) To Trade On Toronto Stock Exchange
December 4, 2020
Issuer: Horizons Tactical Absolute Return Bond ETF (the "ETF")
| Security | Symbol | Issued and Outstanding Securities | Reserved Securities | Issue Price |
|---|---|---|---|---|
| Total Return Series Shares | HARB | 2,300,000 | None | $10.00 |
| Dividend Series Shares | HARB.J | 200,000 | None | $10.00 |
| Listing category: | Non-Corporate |
| Trading currency: | CDN$ |
| Transaction: | Initial public offering of Total Return Series Shares and Dividend Series Shares (together, the "ETF Shares") (the "Offering") |
| Listing date: | December 7, 2020 (as at 5:01 pm) in anticipation of closing of the Offering. |
| Anticipated closing date: | December 8, 2020 (prior to the opening) |
| Posted for trading date: | December 8, 2020 (at the opening) subject to confirmation of closing of the Offering. |
| Other market(s): | None |
| Designated market maker: | BMO Nesbitt Burns Inc. |
| Security ownership registration: | CDS book-entry only system |
| Investor relations: | Martin Fabregas Tel.: (416) 601-2508 mfabregas@horizonsetfs.com |
| Incorporation: | Horizons ETF Corp. (the "Company") is a mutual fund corporation established under the federal laws of Canada. The ETF is an exchange traded mutual fund established by articles of amendment dated November 11, 2020, in accordance with the articles of incorporation of the Company. The ETF is an "alternative mutual fund" as defined in National Instrument 81-102 Investment Funds. The ETF is a separate Corporate Class with two distinct series of shares as described in this bulletin: the Total Return Series Shares and the Dividend Series Shares. |
| Manager: | Horizons ETFs Management (Canada) Inc. |
| Fiscal year end: | December 31 |
| Nature of business: | The investment objective of the ETF is to seek to provide positive absolute returns with low volatility over a market cycle regardless of market conditions or general market direction. The ETF will tactically take long and short positions in North American and global debt instruments and derivatives across the credit spectrum. In respect of the Dividend Series Shares, the ETF will also seek to provide consistent income. |
| Transfer agent and registrar: | TSX Trust Company at its principal office in Toronto. |
| Distributions: | The Company does not currently intend to pay regular dividends or returns of capital on the Total Return Series Shares. While the Dividend Series Shares will not pay dividends or returns of capital (together, "distributions") at a fixed rate, the initial distribution rate on the Dividend Series Shares is initially targeted to be 5.0% per annum. It is anticipated that the ETF will pay a distribution (which may consist of dividends and/or returns of capital) on the Dividend Series Shares on a monthly basis. |
| Sponsorship: | Not applicable |
| Offering document: | Prospectus dated November 27, 2020, which is available at www.SEDAR.com. Capitalized terms not otherwise defined herein are as defined in the Prospectus. |
| Initial public offering: | 2,300,000 Total Return Series Shares will be issued at a subscription price of $10 per Total Return Series Share and 200,000 Dividend Series Shares will be issued at a subscription price of $10 per Dividend Series Share. The ETF is authorized to issue an unlimited number of ETF Shares. ETF Shares of the ETF are being issued and sold on a continuous basis and there is no maximum number of ETF Shares that may be issued. |
| TSX contact: | Chris Birkett, Managing Director, Toronto Stock Exchange |