TMXgroup

December 7, 2009

Horizons AlphaPro Income Plus Fund (the "Fund") - An application has been granted for the original listing in the Industrial category of up to 11,500,000 Class A Units (the "Class A Units") of the Fund, of which up to 10,000,000 Class A Units will be issued and outstanding, and up to 1,500,000 Class A Units will be reserved for issuance upon completion of an initial public offering (the "Offering").

Listing of the Class A Units will become effective at 5:01 p.m. on Tuesday, December 8, 2009, in anticipation of the offering closing on Wednesday, December 9, 2009. The Class A Units will be posted for trading at the opening on Wednesday, December 9, 2009.

At a future date to be announced by Toronto Stock Exchange ("TSX"), each Class A Unit will separate into one trust Class A unit (the "Trust Unit") and one warrant (the "Warrant") of the Fund. The Class A Units will separate into Trust Units and Warrants upon the earlier of the closing of the over-allotment option and the 30th day following the closing of the offering. Each Warrant entitles the holder to purchase one Trust Unit at a subscription price of $10.00 on or before 5:00 p.m. (Toronto time) on January 31, 2011. Warrants not exercised by the expiry time will be void and of no value.

Upon separation of the Class A Units, the Trust Units and the Warrants will be listed on TSX.

The Offering will be conducted under the book-based system; accordingly, a subscriber who purchases Class A Units will receive a customer confirmation from the registered dealer from or through whom Units are purchased.

Additional information on the Class A Units, Trust Units and Warrants can be found in the Fund's final prospectus dated November 26, 2009 (the "Prospectus"), which is available at www.SEDAR.com. Capitalized terms not otherwise defined are as defined in the Prospectus.

Stock Symbol: "HAP.A"
CUSIP: 44047E 20 1
Trading Currency: CDN

Temporary Market Maker: National Bank Financial Inc.

Other Markets: None

Head Office Address: 26 Wellington Street East, Suite 920
Toronto, Ontario
M5E 1S2

Head Office Telephone Number: (416) 933-5745

Fax Number: (416) 777-5181

Email Address: info@alphapro.ca

Website: www.hapefs.com

Manager: AlphaPro Management Inc.

Investment Manager: Barclays Bank PLC

Custodian: RBC Dexia Investor Services Trust

Investor Relations: Martin Fabregas
Tel: (416) 601-2508
E-mail: mfabregas@alphapro.ca

Chief Financial Officer: Alex Watters

Incorporation: The Fund is an investment fund established under the laws of the Province of Ontario pursuant to a declaration of trust dated as of November 26, 2009.

Fiscal Year End: December 31

Nature of Business: The investment objectives of the Fund are to provide holders of Trust Units with both: (i) semi-annual distributions and (ii) the opportunity for capital appreciation in periods of inflation and deflation by tactically allocating exposure of the Fund to (i) U.S. Treasury bonds and TIPs; (ii) commodities; and (iii) money market securities. The Fund will seek to hedge its foreign currency exposure at all times.

Transfer Agent & Registrar: Computershare Investor Services Inc. at its principal office in Toronto.

Distributions: Distributions of income and gains may be paid in Trust Units that may be automatically consolidated. Income or taxable capital gains distributed to a Unitholder in Trust Units are nevertheless required to be included in the Unitholder's income even though no cash will be distributed to fund any resulting tax payment.

Automatic Conversion to an Exchange Traded Fund: If after January 31, 2011, the weighted average trading price of the Trust Units during a period of 10 consecutive trading days is at a discount greater than 2% of the average NAV per Trust Unit for that period or the NAV per Trust Unit exceeds the issue price of $10.00, but in any event by no later than May 31, 2011, there will be an automatic conversion (the "Conversion") of the Trust Units and the Class F Trust Units (not listed) of the Fund into Class E Units of an ETF as soon as reasonably practicable thereafter (the Fund following the Conversion, the "Fund ETF"). As the warrants are exercisable prior to the Conversion, they will provide holders with the ability to acquire Trust Units or Class F Trust Units, as the case may be, which will also be converted into Class E Units.

Initial Public Offering: Pursuant to the terms of the Prospectus, a maximum of 10,000,000 Class A Units at a price of $10.00 per Class A Unit are being offered to the public by CIBC World Markets Inc., BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., National Bank Financial Inc., Scotia Capital Inc., HSBC Securities (Canada) Inc., Raymond James Ltd., Wellington West Capital Markets Inc., Canaccord Capital Corporation, Desjardins Securities Inc., Dundee Securities Corporation, GMP Securities L.P., MGI Securities Inc., Blackmont Capital Inc., and Research Capital Corporation as agents. In addition, the agents have 30 days from closing to exercise an over-allotment option to purchase up to 15% of the aggregate number of Class A Units issued on closing at a price of $10.00 per Class A Unit.

Exchange of Class F Units: Prior to the Conversion, a holder of Class F Trust Units may exchange Class F Trust Units into Class A Trust Units. The holder shall concurrently exercise (the "Concurrent Warrant Exercise"), in accordance with their terms, the number of Class F Warrants (the "Exercisable Warrants") equal to the number of Class F Trust Units being exchanged into Trust Units or, in the event that the holder does not proceed with the Concurrent Warrant Exercise, the Exercisable Warrants of the holder will terminate at the time of the exchange of the Class F Trust Units into Trust Units and be void and of no value. Where proper notice of the exchange from Class F Trust Units into Trust Units has been provided (together with the Class F Trust Units to be converted) on any business day ending before 5:00 p.m. (Toronto time) on the last day of a month (the "Monthly Exchange Notification Date"), such Class F Trust Units will be exchanged into Trust Units on or before the 10th business day following the Monthly Exchange Notification Date (the "Monthly Exchange Date"). For each Class F Trust Unit so exchanged, a Unitholder will receive a number of Trust Units equal to the NAV per Class F Trust Unit as of the Monthly Exchange Date divided by the NAV per Trust Unit as of the Monthly Exchange Date rounded down to the nearest whole Trust Unit. No fractional Trust Units will be issued on an exchange of Class F Trust Units.