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MicroSectors™ Gold Miners -3X Inverse Leveraged ETNs

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MicroSectors™ is a registered trademark of REX Shares, LLC. Bank of Montreal has entered into a sub-license agreement with REX Shares, LLC (“REX” or the “Structuring Agent”), which licenses the Index from S-Network Global Indexes, Inc. (“S-Network”). The license agreement with the Structuring Agent also provides for the use of certain trade names, trademarks and service marks.

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