World's First
Marijuana ETF Launched; Horizons Medical Marijuana Life Sciences ETF (TSX:
HMMJ)
Horizons Medical Marijuana Life
Sciences ETF Begins Trading on the TSX
TORONTO - April 5, 2017
(Investorideas.com Newswire) Horizons ETFs Management (Canada) Inc.
("Horizons ETFs") is pleased to announce the launch of the Horizons
Medical Marijuana Life Sciences ETF ("HMMJ"). Units of the exchange
traded fund ("ETF") begin trading on the Toronto Stock Exchange
("TSX") today under the ticker symbol HMMJ.
HMMJ is the first ETF in the world
that offers direct exposure to North American-listed stocks that are involved
with medical marijuana bioengineering and production.
"Canada is the birthplace of
ETFs and has been home to many firsts in the industry. The Horizons Medical
Marijuana Life Sciences ETF is another made-in-Canada ETF milestone, the
world's first marijuana ETF," said Steve Hawkins, President and Co-CEO of
Horizons ETFs. "At Horizons, we take pride in our innovation, so we're
very happy that for the first time, investors will be able to access a
low-cost, diversified portfolio of companies that are directly involved in the
rapidly growing medical marijuana industry."
HMMJ is an index (or passively
managed) ETF, which seeks to replicate, to the extent possible, the performance
of Solactive's North American Medical Marijuana Index ("the Index"),
net of expenses. The Index provides exposure to the performance of a basket of
North American publicly listed life sciences companies, and other firms, with
significant business activities in the marijuana industry. The Index selects
from a current universe of companies that have operations that may include one
or more of biopharmaceuticals, medical manufacturing, distribution, bioproducts
and other ancillary businesses, related to the marijuana industry.
Only stocks that meet minimum asset
and liquidity thresholds are eligible for inclusion in the Index. Stocks are
rebalanced quarterly on a market-capitalization basis, and capped so that no
single stock can exceed 10% of the weight of the Index when rebalanced.
The following table of securities
shows the current weights of the Index as at March 17, 2017. HMMJ may not
necessarily hold all of the securities in the Index. If Horizons ETFs becomes
aware that one or more constituent issuers of HMMJ's Index conduct activities
in violation of applicable laws, including state or federal legislation in the
United States, HMMJ will not hold the securities of those constituent issuers,
notwithstanding their inclusion in the Index.
"The rapid growth of the medical
marijuana industry, which includes the growth in the size of companies and the
number of companies that are publicly listed on North American stock exchanges,
has created enough market depth and liquidity to make launching an ETF with
this unique theme possible," said Mr. Hawkins. "It's rare that
investors get an opportunity to invest in what is essentially an entirely new
sector of stocks. Despite the recently strong performance of many of these
companies, we do think that we're still in the early stages of what could be a
unique long-term growth opportunity."
HMMJ has closed its initial offering
of units and will begin trading on the TSX when the market opens this morning.
About Solactive (www.solactive.com)
Solactive AG is an innovative index
provider that focuses on the development, calculation and distribution of
tailor-made indices over all asset classes. As of January 2017, Solactive AG
served approximately 350 clients in Europe, America and Asia, with
approximately USD $100 billion invested in products linked to indices
calculated by the Company globally, primarily via 250 exchange traded funds
from a number of well-known providers. Solactive AG was established in 2007 and
is headquartered in Frankfurt.
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. With 77 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.
Commissions, management fees and
applicable sales taxes all may be associated with an investment in the exchange
traded funds managed by Horizons ETFs Management (Canada) Inc. (the
"ETFs"). The ETFs are not guaranteed, their values change frequently
and past performance may not be repeated. The prospectus contains important
detailed information about the ETFs. Please read the prospectus before
investing.
Certain statements contained in this
news release constitute forward-looking information within the meaning of
Canadian securities laws. Forward-looking information may relate to a future
outlook and anticipated distributions, events or results and may include
statements regarding future financial performance. In some cases,
forward-looking information can be identified by terms such as "may",
"will", "should", "expect",
"anticipate", "believe", "intend" or other
similar expressions concerning matters that are not historical facts. Actual
results may vary from such forward-looking information. Horizons ETFs
undertakes no obligation to update publicly or otherwise revise any
forward-looking statement whether as a result of new information, future events
or other such factors which affect this information, except as required by law.
HMMJ is not sponsored, promoted, sold
or supported in any other manner by Solactive AG nor does Solactive AG offer
any express or implicit guarantee or assurance either with regard to the
results of using the Index and/or Index trade name or the Index Price at any
time or in any other respect. The Index is calculated and published by
Solactive AG. Solactive AG uses its best efforts to ensure that the Index is calculated
correctly. Irrespective of its obligations towards the Issuer, Solactive AG has
no obligation to point out errors in the Index to third parties including but
not limited to investors and/or financial intermediaries of the financial
instrument. Neither publication of the Index by Solactive AG nor the licensing
of the Index or Index trade name for the purpose of use in connection with the
financial instrument constitutes a recommendation by Solactive AG to invest
capital in HMMJ nor does it in any way represent an assurance or opinion of
Solactive AG with regard to any investment in HMMJ.
SOURCE Horizons ETFs Management
(Canada) Inc.
For further
information:
For investor inquiries:
1-866-641-5739 (toll-free) or (416) 933-5745, info@horizonsetfs.com; For press
or other inquiries: Mark Noble, Head of Sales Strategy, Horizons ETFs
Management (Canada) Inc., (416) 640-8254, mnoble@horizonsetfs.com
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