Tungsten Properties. On October 7, 2013 the Company entered into a letter agreement with Tumi Resources Ltd. ("Tumi") and acquired a 100% interest in seven exploration licenses (the "Tungsten Projects") located in south-central Sweden by paying $45,000 cash and issuing 50,000 common shares of the Company at a fair value of $51,500. A further 50,000 common shares are issuable upon commencement of production from any of the Tungsten Projects. Tumi has two common directors.
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Sources: Condensed Consolidated Interim Financial Statements (Tasman Metals Ltd.), Condensed Consolidated Interim Financial Statements (Tasman Metals Ltd.), Condensed Consolidated Interim Financial Statements (Tasman Metals Ltd.)