Tinkerine Studio Ltd entered into a binding letter of intent to acquire White Bear Resources, Inc. (TSXV:WBR) in a reverse merger transaction on January 4, 2014. According to the terms of the agreement, White Bear Resources will acquire all of the 200 issued and outstanding shares of Tinkerine in exchange for the issuance of an aggregate of 12 million shares. White Bear Resources, Inc. will also issue an aggregate of 0.9 million options to current Tinkerine Studio option holders in exchange for their aggregate 15 existing Tinkerine Studio options, each of which will be exercisable into one White Bear Resources, Inc. share at a price of $0.15 per share until December 20, 2016. Concurrent with the closing of the acquisition, White Bear Resources, Inc. intends to complete a private placement financing of a minimum of 8 million units at a price of $0.25 per unit for minimum gross proceeds of $2 million. Each unit will be comprised of one White Bear share and one half warrants, with each Warrant being exercisable into one White Bear share at a price of $0.40 per share for a period of 18 months following the closing of the transaction. Upon successful closing of the acquisition, Tinkerine will be a wholly-owned subsidiary of White Bear. As of February 27, 2014, Tinkerine Studio Ltd entered into a definitive share exchange agreement to acquire White Bear Resources, Inc. (TSXV:WBR) in a reverse merger transaction. post the transaction, White Bear Resources Inc. intends to change its name to Tinkerine Studios Ltd.

Upon the closing, Byron Coulthard, James Clucas and Cyrus Driver are expected to resign as officers and Directors of White Bear Resources, Inc. with certain Principals of Tinkerine to be appointed in their place. John Veltheer will continue as a Director of White Bear Resources, Inc. White Bear is currently a natural resource company but is expected to change the focus of its business in connection with the acquisition. The LOI is expected to be superseded by a formal definitive agreement and is subject to the completion of initial due diligence by Tinkerine and White Bear , approval by the Board of Directors and the shareholders (as applicable) of each of White Bear and Tinkerine Studio, approval by the Toronto Stock exchange and that satisfactory employment or consulting agreements being entered into with key principals of Tinkerine Studio Ltd. White Bear and Tinkerine need to notify the other whether their respective initial due diligence is satisfactory and they intend to proceed with the acquisition by January 10, 2014. In the event that either party does not provide the other with such notification by such date, the LOI will terminate.