Toronto-based Horizons ETFs Management (Canada) Inc. will hold a unitholder meeting to approve a proposed merger of two cannabis ETFs.
In a release, Horizons said that merging the Horizons Emerging Marijuana Growers Index ETF into the Horizons U.S. Marijuana Index ETF will allow unitholders to continue their investment in a marijuana-focused ETF, but with a larger market capitalization.
Unitholders may also benefit over time from a reduction of the merged fund’s management expense ratio, Horizons said.
The unitholder meeting will be held on Feb. 19.