HORIZONS ETFs ANNOUNCES UNITHOLDER APPROVALS FOR PROPOSED CHANGES TO ITS COVERED CALL ETFs

TORONTO, June 21, 2022 /CNW/ - Horizons ETFs Management (Canada) Inc. ("Horizons ETFs" or the "Manager") held special meetings of unitholders of its suite of covered call ETFs listed in the table below (the "ETFs"), on June 21, 2022, during which unitholders approved all matters relating to proposed changes to the investment objectives of the ETFs previously announced in an information circular that was made available to unitholders.

The approval of the changes follows the proposal made by the Manager and published in a circular sent to all unitholders and announced by press release dated May 17, 2022, both available at www.sedar.com and www.HorizonsETFs.com. An update to the circular in respect of Horizons Enhanced Income Gold Producers ETF was announced by press release on June 2, 2022 and was subsequently filed on www.sedar.com.

The new investment objectives, which will be effective on June 24, 2022, follow an extensive review by the Manager of the ETFs. The ETFs will begin to trade under their new names and tickers at the opening of trading on June 27, 2022.  The changes are further described below:

Current Name and Ticker	New Name and Ticker	New Investment Objectives
Horizons Enhanced Income Equity ETF ("HEX")	Horizons Canadian Large Cap Equity Covered Call ETF ("CNCC")	CNCC seeks to provide: (a) exposure to the performance of the large-cap segment of the Canadian equity market; and (b) monthly distributions of dividend and call option income. To mitigate downside risk and generate income, CNCC will employ a dynamic covered call option writing program.
Horizons Enhanced Income Energy ETF ("HEE")	Horizons Canadian Oil and Gas Equity Covered Call ETF ("ENCC")	ENCC seeks to provide, to the extent possible and net of expenses: (a) exposure to the performance of an index of Canadian companies that are involved in the crude oil and natural gas industry (currently, the Solactive Equal Weight Canada Oil & Gas Index); and (b) monthly distributions of dividend and call option income. To mitigate downside risk and generate income, ENCC will employ a dynamic covered call option writing program.
Horizons Enhanced Income Financials ETF ("HEF")	Horizons Equal Weight Canadian Bank Covered Call ETF ("BKCC")	BKCC seeks to provide, to the extent possible and net of expenses: (a) exposure to the performance of an index of equal-weighted equity securities of diversified Canadian banks (currently, the Solactive Equal Weight Canada Banks Index); and (b) monthly distributions of dividend and call option income. To mitigate downside risk and generate income, BKCC will employ a dynamic covered call option writing program.
Horizons Enhanced Income US Equity (USD) ETF ("HEA.U")*	Horizons US Large Cap Equity Covered Call ETF ("USCC.U")	USCC.U seeks to provide: (a) exposure to the performance of the large-cap market segment of the U.S. equity market and (b) monthly U.S. dollar distributions of dividend and call option income. To mitigate downside risk and generate income, USCC.U will employ a dynamic covered call option writing program. USCC.U will not seek to hedge its exposure to the U.S. dollar back to the Canadian dollar.
Horizons Enhanced Income International Equity ETF ("HEJ")	Horizons NASDAQ-100 Covered Call ETF ("QQCC")	QQCC seeks to provide, to the extent possible and net of expenses: (a) exposure to the performance of an index of the largest domestic and international nonfinancial companies listed on the NASDAQ stock market (currently, the NASDAQ-100® Index); and (b) monthly U.S. dollar distributions of dividend and call option income. To mitigate downside risk and generate income, QQCC will employ a dynamic covered call option writing program. QQCC will not seek to hedge its exposure to the U.S. dollar back to the Canadian dollar.
Horizons Enhanced Income Gold Producers ETF ("HEP")	Horizons Gold Producer Equity Covered Call ETF ("GLCC")	GLCC seeks to provide, to the extent possible and net of expenses: (a) exposure to the performance of an index of equity securities of diversified North American listed gold producers (currently, the Solactive North American Listed Gold Producers Index) and (b) monthly distributions of dividend and call option income. To mitigate downside risk and generate income, GLCC will employ a dynamic covered call option writing program.

* The Canadian dollar version, "HEA", will change to "USCC".

There are no changes to the management fee of the ETFs. Further details regarding the changes can be found at www.sedar.com and www.HorizonsETFs.com.

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 $22 billion of assets under management and 104 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.

Certain statements may constitute a forward-looking statement, including those identified by the expression "expect" and similar expressions (including grammatical variations thereof). The forward-looking statements are not historical facts but reflect the author's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. These and other factors should be considered carefully and readers should not place undue reliance on such forward looking statements. These forward-looking statements are made as of the date hereof and the authors do not undertake to update any forward-looking statement that is contained herein, whether as a result of new information, future events or otherwise, unless required by applicable law.

Additional information regarding an ETF is contained in its prospectus (as amended), ETF Facts, the most recently filed interim and annual management reports of fund performance and the annual audited and interim unaudited financial statements of each ETF. You should review these documents carefully. Any of the documents of the type referred to above including any material change report (excluding confidential material change reports) and prospectus filed by each ETF and, if applicable, receipted by a securities commission or similar authority in Canada after the date of the Circular will be deemed to be incorporated by reference into this Circular. You may obtain a copy of an ETF's prospectus (as amended) and any of the documents incorporated by reference herein by accessing the SEDAR website at www.sedar.com or the Manager's website at www.HorizonsETFs.com, or at no charge by calling the Manager's toll-free number at 1-866-641-5739 or by faxing a request to the Manager at 416-777-5181.

This communication is intended for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase exchange traded products (the "Horizons Exchange Traded Products") managed by Horizons ETFs Management (Canada) Inc. and is not, and should not be construed as, investment, tax, legal or accounting advice, and should not be relied upon in that regard. Individuals should seek the advice of professionals, as appropriate, regarding any particular investment. Investors should consult their professional advisors prior to implementing any changes to their investment strategies. These investments may not be suitable to the circumstances of an investor.

The financial instrument is not sponsored, promoted, sold, or supported in any other manner by Solactive AG nor does Solactive AG offer any express or implicit guarantee or assurance either with regard to the results of using the Index and/or Index trade name or the Index Price at any time or in any other respect. The Index is calculated and published by Solactive AG. Solactive AG uses its best efforts to ensure that the Index is calculated correctly. Irrespective of its obligations towards the Issuer, Solactive AG has no obligation to point out errors in the Index to third parties including but not limited to investors and/or financial intermediaries of the financial instrument. Neither publication of the Index by Solactive AG nor the licensing of the Index or Index trade name for the purpose of use in connection with the financial instrument constitutes a recommendation by Solactive AG to invest capital in said financial instrument nor does it in any way represent an assurance or opinion of Solactive AG with regard to any investment in this financial instrument.

Nasdaq®, Nasdaq-100®,and Nasdaq-100 Index®, are trademarks of The NASDAQ OMX Group, Inc.(which with its affiliates is referred to as the "Corporations") and are licensed for use by Horizons ETFs Management (Canada) Inc. The Fund(s)have not been passed on by the Corporations as to their legality or suitability. The Fund(s) are not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND(S) or PRODUCT(S).

SOURCE Horizons ETFs Management (Canada) Inc.

For all inquiries: Please contact Horizons ETFs at 1-866-641-5739 (toll-free) or [phone], [email protected]