HORIZONS ETFs ANNOUNCES ETF CLOSURE

TORONTO, March 13, 2023 /CNW/ - Horizons ETFs Management (Canada) Inc. (the "Manager") announced today that it will be terminating the Horizons Emerging Markets Leaders ETF (the "ETF") effective at the close of business on or about May 23, 2023 (the "Termination Date"). Details of the ETF are as follows:

ETF Name	Ticker
Horizons Emerging Markets Leaders ETF	HEMC

Effective immediately, no further direct subscriptions for shares of the ETF will generally be accepted. The ETF is expected to be de-listed from the Toronto Stock Exchange, at the request of the Manager, at the close of business on or about May 16, 2023, with all shares still held by investors being subject to a mandatory redemption as of the Termination Date.

Any remaining shareholders of the ETF 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 ETF, on a pro rata basis.

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 over $24 billion of assets under management and 107 ETFs listed on major Canadian stock exchanges.

Commissions, management fees and expenses all may be associated with an investment in exchange traded products managed by Horizons ETFs Management (Canada) Inc. (the "Horizons Exchange Traded Products"). The Horizons Exchange Traded Products are not guaranteed, their value changes frequently and past performance may not be repeated. Certain Horizons Exchange Traded Products may have exposure to leveraged investment techniques that magnify gains and losses and which may result in greater volatility in value and could be subject to aggressive investment risk and price volatility risk. Such risks are described in the prospectus. The prospectus contains important detailed information about the ETF. Please read the relevant prospectus before investing.

SOURCE Horizons ETFs Management (Canada) Inc.

Contact Horizons ETFs at 1-866-641-5739 (toll-free) or [phone], [email protected]