Horizons ETFs Announces Completion of ETF Merger

TORONTO, Dec. 3, 2021 /CNW/ - Horizons ETFs Management (Canada) Inc. (the "Manager") is pleased to announce the completion of the previously announced merger (the "Merger") of Horizons Morningstar Hedge Fund Index ETF ("HHF" or the "Merging ETF") into Horizons ReSolve Adaptive Asset Allocation ETF ("HRAA" or the "Continuing ETF") effective as of the close of business Friday, December 3, 2021 (the "Merger Date"). The Merger was approved at a meeting of HHF shareholders held on November 30, 2021.

The shares of the Merging ETF were exchanged for the shares of the Continuing ETF on a taxable basis at the following ratio (the "Merger Ratio"), based on the respective closing net asset values of each ETF.

ETF	Ticker	Merger Ratio
Horizons Morningstar Hedge Fund Index ETF	HHF	1.574549:1

As a result of the above Merger Ratio, shareholders of HHF will be issued 1.574549 shares of HRAA for each share of HHF held as at December 3, 2021, rounded to the nearest whole share.

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

Horizons ETFs Management (Canada) Inc. is an innovative financial services company and offers one of the largest suites of exchange traded funds in Canada. The Horizons ETFs product family includes a broadly diversified range of solutions for investors of all experience levels to meet their investment objectives in a variety of market conditions. Horizons ETFs has more than $20 billion of assets under management and 105 ETFs listed on major Canadian stock exchanges.

Commissions, management fees and expenses all may be associated with an investment in exchange traded products (the "Horizons Exchange Traded Products") managed by Horizons ETFs Management (Canada) Inc. The Horizons Exchange Traded Products are not guaranteed, their values change frequently and past performance may not be repeated. The prospectus contains important detailed information about the Horizons Exchange Traded Products. Please read the relevant prospectus before investing.

SOURCE Horizons ETFs Management (Canada) Inc.

Martin Fabregas, Investor Relations, [phone] or [phone].

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