Le Lézard
Subject: Merger/Acquisition

Reality Shares Advisors, LLC Announces Reality Shares DIVCON Dividend Guard ETF's Merger into Reality Shares DIVCON Dividend Defender ETF


Reality Shares Advisors, LLC (RSA) announced today that the Reality Shares DIVCON Dividend Guard ETF (CBOE: GARD), an index-based exchange-traded fund ("ETF") managed by RSA, will merge into and with the Reality Shares DIVCON Dividend Defender ETF (CBOE: DFND), also an index-based ETF managed by RSA. The merger was approved by the ETFs' Board of Trustees on December 12, 2019. The decision of the Board to merge the ETFs is not subject to shareholder approval. However, a Combined Information Statement and Prospectus that contains more information about the merger and the Reality Shares DIVCON Dividend Defender ETF will be mailed to shareholders of the Reality Shares DIVCON Dividend Guard ETF prior to the merger. Subject to the satisfaction of certain customary closing conditions, the merger is expected to occur on or about February 28, 2020. No assurance can be given as to the exact timing of the closing of the transaction.

Upon the completion of the merger, which is expected to be tax-free for shareholders, the assets of GARD will be transferred to, and the liabilities of GARD will be assumed by, DFND. The shareholders of GARD will receive shares of DFND with an aggregate net asset value equal to the aggregate net asset value of the GARD shares held by them.

The Reality Shares DIVCON Dividend Defender ETF seeks to provide stable overall returns, with lower volatility and correlation compared to the S&P 500. By short-selling low-quality companies as indicated by DIVCON, the Fund may provide more stable results in periods of heightened market volatility.

The Reality Shares DIVCON Dividend Defender ETF uses DIVCON, a forward-looking dividend rating methodology to evaluate large-cap company health indicators based on seven key factors, with a 75% long-investment in companies likely to increase dividends and a 25% short in the firms likely to cut their dividends according to DIVCON.

About Reality Shares

At Reality Shares, we strive to deliver ETFs based on innovative investment methodologies. Ranging from disruptive fintech to a proprietary dividend health rating system called DIVCONtm, Reality Shares is focused on offering investors access to innovative market segments.

Carefully consider the investment objectives, risks, charges and expenses before investing in Reality Shares ETFs. This and other important information can be found in the ETFs' prospectus, which may be obtained by calling 855-595-0240 or by visiting us at realityshares.com. Please read the prospectus carefully before investing.

ETF shares are bought and sold at market price (not NAV) and are not individually redeemable. Investors buy and sell shares on a secondary market. Shares may trade at a premium or discount to the NAV. Only market makers or "authorized participants" may trade directly with the Fund(s), typically in blocks of 25,000 shares. Shares are not FDIC insured and may lose value.

Reality Shares Advisors, LLC is the Investment Advisor. ALPS Distributors, Inc. is the Distributor for the Fund and is not affiliated with Reality Shares Advisors, LLC.

RLT001130 Ex. 2/1/2021



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