TMXgroup

February 8, 2010

Horizons AlphaPro North American Value ETF (the "ETF") - An application has been granted for the original listing in the Industrial category of 1,015,000 Class E units (the "Units") of the ETF, all of which will be issued and outstanding, and none will be reserved for issuance upon completion of an initial public offering.

Listing of the Units will become effective at 5:01 p.m. on Tuesday, February 9, 2010 in anticipation of the offering closing prior to the opening on Wednesday, February 10, 2010. The Units will be posted for trading at the opening on February 10, 2010.

The registration and transfer of Units will be affected through the book-entry only system administered by CDS Clearing and Depository Services Inc. Unitholders of the ETF will not have the right to receive physical certificates evidencing their ownership of the Units.

Additional information on the Units may be found in the final prospectus dated January 11, 2010 (the "Prospectus"), which is available at www.SEDAR.com. Capitalized terms not otherwise defined are as defined in the Prospectus.

Stock Symbol: "HAV"
CUSIP: 44044L 10 9
Trading: CDN $

Market Maker: National Bank Financial Inc.

Other Markets: None

Head Office Address: c/o AlphaPro Management Inc.
26 Wellington Street East
Suite 920
Toronto, Ontario
M5E 1S2

Website: www.hapetfs.com

Email: info@alphapro.ca

Head Office Telephone Number: (416) 933-5745

Fax Number: (416) 777-5181

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

Chief Financial Officer: Alex Watters

Secretary: Duriya Patel

Incorporation: The ETF is an open-ended mutual fund trust established under the laws of Ontario. The ETF was created pursuant to a declaration of trust made as of December 31, 2008 as amended on November 9, 2009 and January 11, 2010.

Manager and Trustee: AlphaPro Management Inc.

Investment Manager & Portfolio Manager: JovInvestment Management Inc.

Fiscal Year End: December 31

Nature of Business: The ETF seeks long term capital appreciation and income by investing in equity and equity related securities of issuers located in North America. The ETF will invest primarily in issuers located in the United States of America. The Sub-Advisor, of the ETF, will rely primarily on a value investment style to identify appropriate investments.

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

Distributions and Automatic Reinvestment: The ETF will distribute sufficient net income (including net capital gains) so that the ETF will not be liable for income tax in any given year. The Manager intends, but is under no obligation, to make such distributions, usually on an annual basis and prior to the end of each year. Such distributions will be automatically reinvested on behalf of each Unitholder in additional Units of the ETF and then consolidated.

Initial Issuance of Units: Pursuant to the terms of the Prospectus, Units will be issued and sold on a continuous basis and there will be no minimum number of Units that may be issued. Units sold in connection with the initial public offering for the ETF will amount to 1,015,000 Units at a price of $10.00 per Unit.