Merger Details:

Effective June 30, 2011 Horizons AlphaPro Managed S&P/TSX 60 ETF (HAX) merged with Horizons AlphaPro S&P/TSX 60 Equal Weight Index ETF (HEW). Unitholders of HAX received 1.018419 units of HEW for each unit of HAX previously held. The merger was effected on a non-taxable basis.