The Securities Commission has granted an exemption to Horizons ETFs Management (Canada) Inc. (the Filer) on behalf of Horizons 0-3 Month T-Bill ETF and Horizons 0-3 Month U.S. T-Bill ETF (the Funds) to extend the prospectus lapse date from April 4, 2024, to August 4, 2024. This decision is under subsection 62(5) of the Securities Act (Ontario) and is based on the rationale of consolidating the prospectus of these Funds with that of other funds under the Filer’s management to reduce costs and streamline investor information.
The Filer is a registered investment fund manager and the Funds are exchange-traded mutual funds in Ontario, with compliance in all Canadian jurisdictions. The extension will align the Funds’ prospectus renewal with that of other funds (the August Funds) managed by the Filer, whose prospectus lapses on August 4, 2024. This consolidation is expected to benefit investors by simplifying comparisons and reducing redundancy in renewal processes.
The Commission determined that there have been no material changes in the Funds’ affairs since the last prospectus, and any future material changes will be disclosed as required by law. The exemption is not anticipated to impact the accuracy of information or be prejudicial to the public interest. The decision was made in accordance with the test set out in the applicable securities legislation.