Hanover Shoe Farms, Inc., as Syndicate Manager of Explosive Matter, has received notification of an offer from harness racing syndicate members Global Farm AB and Boko Stables to purchase all of the other shares in Explosive Matter for $25,000 per share.

The Syndicate Manager has asked syndicate members whether they desire to accept that offer and their response is due on October 28, 2017.

Upon receipt of responses from the syndicate members, the Syndicate Manager will apply the procedures required by the Explosive Matter Syndication Agreement dated October 30, 2009, regarding transfer of interests in the stallion, which include a right of first refusal.

The Syndicate Manager will shortly be in touch with syndicate members regarding those contractual procedures.

Contrary to public reports, no determination as to the ownership or location of the stallion has yet been made.

Jim Simpson

Syndicate Manager

Hanover Shoe Farms, Inc.