Update on Tender Offer From Terra Nova Royalty Corporation: Shareholders of Terra Nova Approve Share Issuance

HONG KONG, Nov. 2, 2010 /PRNewswire-FirstCall/ -- Mass Financial Corp. ("Mass") (Vienna Stock Exchange symbol: MASS) (Pink Sheets: MFCAF) announces that shareholders of Terra Nova Royalty Corporation ("Terra Nova") approved the issuance of common shares of Terra Nova under the proposed acquisition by Terra Nova, through a wholly-owned subsidiary, of all of the class A common shares of Mass (the "Mass Shares").  Such approval was received at a special meeting of Terra Nova's shareholders held on October 29, 2010.

The offer by Terra Nova and its wholly-owned subsidiary to acquire all of the Mass Shares from Mass shareholders (the "Tender Offer") is set to expire at 11:59 p.m. (New York time) on November 8, 2010.  The Tender Offer remains subject to certain conditions, which are set out, along with other information respecting the transaction, in the offering documents, including a prospectus and a letter of transmittal, which Terra Nova mailed to holders of record of Mass Shares.  

Shareholders of Mass who 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 the address set forth in the offering documents.  Shareholders who hold their Mass Shares in "street name" through a broker should contact their brokers as soon as possible and instruct their brokers to tender their Mass Shares pursuant to the Tender offer.

In order to receive common shares of Terra Nova under the Tender Offer, Mass shareholders must tender their Mass Shares prior to the expiry time of the Tender Offer, which is 11:59 p.m. (New York time) on November 8, 2010.

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:

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.  

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 free copies of the prospectus and the letter of transmittal through the website maintained by the SEC at www.sec.gov.

About the Company:

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 www.massfinancialcorp.com.

Forward-Looking Statements

This document contains statements which are, or may be deemed to be, "forward-looking statements" which are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements.

Often, but not always, forward-looking statements can be identified by the use of forward-looking words such as "plans", "expects" or "does not expect", "is expected", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Mass to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Important factors that could cause actual results, performance or achievements of Mass to differ materially from the expectations of Mass include, among other things, general business and economic conditions globally, commodity price volatility, industry trends, competition, changes in government and other regulation, including in relation to the environment, health and safety and taxation, labor relations and work stoppages, changes in political and economic stability, the failure to meet certain conditions of the Offer and/or the failure to obtain the required approvals or clearances from regulatory and other agencies and bodies on a timely basis or at all, the inability to successfully integrate Mass's operations and programs with those of Terra Nova, incurring and/or experiencing unanticipated costs and/or delays or difficulties relating to integration of Mass, disruptions in business operations due to reorganization activities and interest rate and currency fluctuations. Such forward-looking statements should therefore be construed in light of such factors.

Other than in accordance with its legal or regulatory obligations, Mass is not under any obligation and Mass expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE Mass Financial Corp.

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