TORONTO, Dec. 30, 2016 /CNW/ - Horizons ETFs Management (Canada) Inc. and its affiliate AlphaPro Management Inc. (collectively "Horizons ETFs") confirmed today the annual non-cash distributions (the "Non-Cash Distributions") to unitholders of certain of the exchange traded funds that Horizons ETFs manages (the "ETFs") for the 2016 tax year as indicated in the table below. Please note that this is an update to the estimated annual Non-Cash Distributions previously announced on December 19, 2016.

Each of the ETFs is required to distribute any net income and capital gains that they have earned in the year. The annual Non-Cash Distributions will not be paid in cash but will be reinvested and reported as taxable distributions and will be used to increase each unitholder's adjusted cost base for the respective ETF. The nature of the Non-Cash Distributions for the respective ETFs as either income or capital gains is disclosed in the footnotes to the table below. The Non-Cash Distributions will be reinvested automatically in additional units of the respective ETFs and immediately consolidated so that the number of units held by the unitholder, the units outstanding of the ETFs, and the net asset value of the ETFs, will not change as a result of the Non-Cash Distributions. These amounts do not include the regular monthly or quarterly cash distributions, as applicable, announced on December 19, 2016.

The ex-dividend date for these distributions was December 28, 2016, for all unitholders of record on December 30, 2016.  In early 2017, the tax characteristics of all distributions for 2016 for the ETFs will be reported to brokers via the Canadian Depository for Securities (CDS) and will be posted on our website shortly thereafter.

About Horizons ETFs Management (Canada) Inc. (www.HorizonsETFs.com)

Horizons ETFs Management (Canada) Inc. and its affiliate AlphaPro Management Inc. are innovative financial services companies offering the Horizons ETFs family of exchange traded funds. 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. Horizons ETFs has more than $7 billion of assets under management and with 76 ETFs listed on the Toronto Stock Exchange, the Horizons ETFs family makes up one of the largest families of ETFs in Canada. Horizons ETFs Management (Canada) Inc. and AlphaPro Management Inc. are members of the Mirae Asset Global Investments Group.

SOURCE Horizons ETFs Management (Canada) Inc.