HGY.UN - <span class="simulate_din_font">Horizons Gold Yield Fund announces February 2012 distribution</span> (CAD 0.0778)

Company: Horizons Gold Yield Fund
Stock Name: HGY.UN
Amount: CAD 0.0778
Announcement Date: 21/02/2012
Record Date: 23/02/2012

Dividend Detail:

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TORONTO, Feb. 21, 2012 /CNW/ - Horizons Exchange Traded Funds Inc. ("Horizons ETFs") and its affiliate AlphaPro Management Inc. ("AlphaPro") are pleased to announce the monthly distribution rate for the
Horizons Gold Yield Fund (the "Fund") for February 2012 in the amount of $0.07780 per Class A unit and
Class F unit of the Fund. The Class A units of the Fund are listed for
trading on the Toronto Stock Exchange ("TSX") under the symbol HGY.UN. The Class F units of the Fund are not publicly listed.

This distribution rate, which is equivalent to $0.9336 per annum or a
yield of 9.34% per annum on the initial issue price of $10.00 per Class
A unit and Class F unit. The February distribution ex-dividend date is
anticipated to be February 27, 2012, for all Class A and Class F
unitholders of record on February 29, 2012. The distribution is payable
on March 12, 2012.

In a separate press release issued today, AlphaPro announced that it
expects to convert, subject to regulatory approval, the Fund into an
open end exchange traded fund as of the close of business on February
27, 2012 (the "Conversion"). The Conversion transaction will not settle until after the record
date for this distribution announcement and will therefore have no
effect on the declaration or payment of the aforementioned distribution
to Class A and Class F unitholders of record on February 29, 2012.

About Horizons Exchange Traded Funds Inc. (www.horizonsetfs.com)

Horizons ETFs is an innovative financial services company offering the
Horizons ETFs family of ETFs. 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. With more than $3.3 billion in
assets under management and 77 ETFs listed on the TSX, the Horizons
ETFs family makes up the largest selection of ETFs in Canada. Horizons
ETFs is asubsidiary of Horizons ETFs Management (Canada) Inc. and a
member of the Mirae Asset Financial Group.

For further information:

Martin Fabregas, Investor Relations, (416) 601-2508 or 1-866-641-5739