The Ontario Securities Commission has granted an exemption to Horizons ETFs Management (Canada) Inc., the manager of Horizons 0-3 Month T-Bill ETF and Horizons 0-3 Month U.S. T-Bill ETF, allowing for an extension of the prospectus lapse date from April 4, 2024, to August 4, 2024. This decision was made to enable the consolidation of the funds’ prospectus with that of other funds under the same management, which is set to lapse in August 2024.
The key reasons for granting the exemption include cost savings from avoiding the preparation of separate renewal prospectuses, the ability to streamline disclosure across the Filer’s fund platform, and the facilitation of investor comparisons. The commission determined that there have been no material changes in the affairs of the funds since the last prospectus, and any future material changes will be disclosed as required by law.
The decision was made under subsection 62(5) of the Securities Act (Ontario) and is consistent with the public interest as it does not compromise the accuracy of the information in the prospectuses. The exemption is not subject to any conditions.