TORONTO, Feb. 19, 2021 /CNW/ - Horizons ETFs Management (Canada) Inc. ("Horizons ETFs") is announcing that Mindset Pharma Inc. ("Mindset Pharma") and Novamind Inc. ("Novamind") have been included as fast entry additions to the North American Psychedelics Index (the "Index"), which is the underlying index of the Horizons Psychedelic Stock Index ETF ("PSYK").
The Index is designed to provide a measure of the performance of North American publicly-listed life sciences companies focused on psychedelic medicines, and other companies with business activities in the psychedelics industry. The Index is designed to provide diversified exposure to the psychedelics industry, at weights that can easily and cost effectively be replicated, while at the same time reflecting the evolution of the industry in a timely fashion.
One of the innovative features of the Index is that it has a "Fast Entry" rule, which allows the Index, and by extension, PSYK, to add new stocks shortly after they become publicly available, assuming they qualify for inclusion. In order for a stock to be eligible for the fast-entry inclusion, it must have a float market capitalization in excess of CAD $50 million.
Following their fast entry additions into the Index, Mindset Pharma and Novamind have been, or will be, added as constituent holdings of PSYK. PSYK seeks to replicate, to the extent possible and net of expenses, the performance of the Index.
Rebalancing of the North American Psychedelics Index occurs each calendar quarter. At those points, all stocks eligible for inclusion are generally re-weighted by their respective float market capitalization. The holdings of the Index, PSYK and its current portfolio weights are regularly updated and available at www.HorizonsETFs.com/ETF/PSYK.
About Horizons ETFs Management (Canada) Inc. (www.HorizonsETFs.com)
Horizons ETFs Management (Canada) Inc. is an innovative financial services company and offers one of the largest suites of exchange traded funds in Canada. The Horizons ETFs product family includes a broadly diversified range of solutions for investors of all experience levels to meet their investment objectives in a variety of market conditions. Horizons ETFs has more than $17.5 billion of assets under management and 94 ETFs listed on major Canadian stock exchanges.
Commissions, management fees and expenses all may be associated with an investment in exchange traded products (the "Horizons Exchange Traded Products") managed by Horizons ETFs Management (Canada) Inc. The Horizons Exchange Traded Products are not guaranteed, their values change frequently and past performance may not be repeated. The prospectus contains important detailed information about the Horizons Exchange Traded Products. Please read the relevant prospectus before investing.
There are risks associated with this product. PSYK is expected to invest in, and indirectly derive revenues from, companies in the psychedelics industry engaged in legal activities involving psychedelic drugs and substances. While the medical and adult use of certain psychedelic drugs and substances are generally prohibited under U.S. federal law, despite this prohibition, a limited number of states have either sought to decriminalize or authorize the medical use of certain psychedelic drugs and substances in limited. Clinical trials involving psychedelic drugs and substances are, however, permitted, provided they comply with both state and federal laws applicable to such trials. Psychedelic drugs and substances in Canada are primarily regulated under the Controlled Drugs and Substances Act (the "CDSA"), the Food and Drug Act and the regulations promulgated thereunder. The medical use of certain psychedelic drugs and substances remain illegal under Canadian federal law unless discretionary exemptions are granted under the CDSA, while a limited number of other drugs and substances may be prescribed by a health care practitioner to patients under their care. Adult recreational use of psychedelic drugs and substances remains generally prohibited under the CDSA. Commercial activities involving psychedelic drugs and substances are permitted in Canada by parties who hold the required federal regulatory approvals and licences; however, distribution and sales opportunities for psychedelic drugs and substances are heavily restricted at this time. PSYK will passively invest in companies engaged in legal activities involving psychedelic drugs and substances in Canada and the U.S. where applicable laws permit such activities. PSYK will not be directly engaged in the manufacture, importation, possession, use, sale or distribution of psychedelic drugs or substances in either Canada or the U.S.
Certain statements herein may constitute a forward-looking statement, including those identified by the expression "expect" and similar expressions (including grammatical variations thereof). The forward-looking statements are not historical facts but reflect the author's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. These and other factors should be considered carefully and readers should not place undue reliance on such forward looking statements. These forward-looking statements are made as of the date hereof and the authors do not undertake to update any forward-looking statement that is contained herein, whether as a result of new information, future events or otherwise, unless required by applicable law.
Neither Horizons ETFs nor Solactive AG shall have any liability, contingent or otherwise, to any person or entity for the quality, accuracy, timeliness and/or completeness of the Index, the data of the Index, or for delays, omissions or interruptions in the delivery of the Index or data related thereto. Neither Horizons ETFs nor Solactive AG makes any warranty, express or implied, as the results to be obtained by any person or entity in connection with any use of the Index, including but not limited to the trading of or investments in PSYK or related to the Index, any data related thereto or any components thereof. Neither Horizons ETFs nor Solactive AG makes any express or implied warranties, and hereby expressly disclaims all warranties of merchantability or fitness for a particular purpose or use with respect to the Index or any data related thereto. Without limiting any of the foregoing, in no event shall Horizons ETFs or Solactive AG have any liability for any special, punitive, indirect, or consequential damages (including lost profits), in connection with any use by any person of the Index, PSYK or any products related thereto, even if notified of the possibility of such damages. Neither Horizons ETFs nor Solactive AG is an advisor as to legal, taxation, accounting, regulatory or financial matters in any jurisdiction, and is not providing any advice as to any such matter.
SOURCE Horizons ETFs Management (Canada) Inc.
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