Horizons ETFs Announces ETF Closure

TORONTO, June 1, 2012 /CNW/ - Horizons Exchange Traded Funds Inc. ("Horizons ETFs") and its affiliate Horizons ETFs Management (Canada) Inc. (the "Manager") announced today that it will be terminating the Horizons GMP^® Junior Oil and Gas Index^TM ETF (the "ETF"), ticker HJE on the Toronto Stock Exchange ("TSX"), effective at the close of business on Friday August 10, 2012 (the "Termination Date").

Effective today, no further direct subscriptions for units of the ETF will be accepted. Friday August 3, 2012 is expected to be the last date on which a redemption request for the ETF may be placed with the Manager, and the ETF is expected to be voluntarily de-listed from the TSX, at the request of the Manager, at the close of business on or about Tuesday August 7, 2012, with all units still held by investors being subject to a mandatory redemption on the Termination Date.

For further information visit www.HorizonsETFs.com

About Horizons Exchange Traded Funds Inc. (www.horizonsetfs.com)

Horizons ETFs is an innovative financial services company offering the Horizons ETFs family of ETFs. The Horizons ETFs family includes a broadly diversified range of investment tools with solutions for investors of all experience levels to meet their investment objectives in a variety of market conditions. With more than $3.4 billion in assets under management and 86 ETFs listed on the TSX, the Horizons ETFs family makes up one of the largest families of ETFs in Canada. Horizons ETFs is a subsidiary of Horizons ETFs Management (Canada) Inc. and a member of the Mirae Asset Financial Group.

Martin Fabregas, Investor Relations, [phone] or 1-866-641-5739.