AFTER CAREFUL CONSIDERATION, THE BOARD OF TRUSTEES OF THE HORIZONS ETF TRUST HAS DETERMINED TO CLOSE AND LIQUIDATE THE HORIZONS KOREA KOSPI 200 ETF (NYSE: HKOR), WHICH IS MANAGED AND MARKETED BY HORIZONS ETFS MANAGEMENT (USA) LLC. THE LAST DAY OF TRADING OF THE FUND’S SHARES ON THE NYSE ARCA WILL BE APRIL 29, 2016.

SHAREHOLDERS MAY SELL FUND SHARES THROUGH A BROKER IN THE STANDARD MANNER THROUGH THIS DATE. SHAREHOLDERS REMAINING IN THE FUND ON MAY 2, 2016 WILL HAVE THEIR SHARES REDEEMED AUTOMATICALLY AND WILL RECEIVE CASH IN AN AMOUNT EQUAL TO THE NET ASSET VALUE OF THEIR SHARES AS OF THE CLOSE OF BUSINESS ON MAY 5, 2016.