Update on Tender Offer From Terra Nova Royalty Corporation

    



    
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<p><span class="xn-location">HONG KONG</span>, <span class="xn-chron">Oct. 22</span> /CNW/ -- Mass Financial Corp. ("Mass") (<span class="xn-location">Vienna</span> Stock Exchange symbol: MASS) (Pink Sheets: MFCAF) is pleased to provide the following update in respect of the offer (the "Tender Offer") by <span class="xn-person">Terra Nova Royalty</span> Corporation and its wholly-owned subsidiary ("<span class="xn-person">Terra Nova</span>") to acquire all the outstanding class A common shares (the "Mass Shares") of Mass for consideration consisting of one common share of <span class="xn-person">Terra Nova</span> for each Mass Share.  The Tender Offer is currently set to expire at <span class="xn-chron">11:59 p.m.</span> (New York time) on <span class="xn-chron">November 8, 2010</span>.</p>
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<p>Mass's Board of Directors has recommended that Mass shareholders accept the Tender Offer and that such shareholders tender their shares under the Tender offer.  Mass has mailed a directors' circular to Mass shareholders that provides further information respecting the recommendation, a copy of which is available on Mass's website (<a href="http://www.massfinancialcorp.com">www.massfinancialcorp.com</a>).</p>
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<p><span class="xn-person">Terra Nova</span> has mailed offering documents, including a prospectus and a letter of transmittal, to holders of record of Mass Shares.  Shareholders of Mass who hold their shares in their own name and wish to tender their shares pursuant to the Tender offer, must complete and sign the letter of transmittal sent to them along with the prospectus and send it, along with their share certificate(s) and any other required documents to BNY Mellon Shareowner Services, the exchange agent and depository under the Tender Offer, at:</p>
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                  By Mail                      By Hand or Courier
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       BNY Mellon Shareowner Service      BNY Mellon Shareowner Service
     Attention: Corporate Action Dept. Attention: Corporate Action Dept.
                PO Box 3301             480 Washington Blvd, 27th Floor
        South Hackensack, NJ  07606          Jersey City, NJ 07310


    
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<p>Shareholders who hold their Mass Shares in "street name" through a broker and wish to tender should contact their brokers as soon as possible and instruct their brokers to tender their Mass Shares pursuant to the Tender offer.</p>
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<p>In order to receive common shares of <span class="xn-person">Terra Nova</span> under the Tender Offer, Mass shareholders must tender their Mass Shares prior to the expiry time of the Tender Offer, which is <span class="xn-chron">11:59 p.m.</span> (New York time) on <span class="xn-chron">November 8, 2010</span>.   Certain banks and brokerage firms may have earlier deadlines for receiving instructions from their clients.  Shareholders should check with their bank or broker to determine if such a deadline exists.</p>
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<p>Shareholders who have any questions regarding the procedure for tendering shares under the Tender Offer should contact the information agent for the Tender Offer at:</p>
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                                    Georgeson Inc.
                             199 Water Street, 26th Floor
                               New York, New York 10038
                               Toll-Free: [phone]
                Banks and Brokerage Firms call collect: [phone]


    
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<p>Mass will not be holding a shareholders' meeting in connection with the Tender offer and is not seeking proxies from Mass shareholders in such regard.</p>
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<p>The offering documents mailed to Mass shareholders contain important information about the Tender Offer and other related transactions and should be read before any decision is made by a shareholder of Mass with respect to the Tender offer.  Investors may obtain copies of the prospectus and the letter of transmittal through the website maintained by the SEC at <a href="http://www.sec.gov">www.sec.gov</a>.</p>
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    About the Company:

    
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<p>Mass is an integrated commodities and financial services company.  It conducts its operations internationally and its activities include the supply and sale of commodities, proprietary investing and financial services. To obtain further information, please visit our website at <a href="http://www.massfinancialcorp.com">www.massfinancialcorp.com</a>.</p>
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    North America Contact: Rene Randall
    Telephone: [phone] Email: [email protected]





    

For further information: Rene Randall, [phone], [email protected], for Mass Financial Corp. Web Site: http://www.massfinancialcorp.com