Ann: General Security Agreement, page-296

No.

JV Company is defined us (70% Tesoro Mining Chile/30% Vendor).

TSO is the parent company of Tesoro Mining Chile. Share holders meeting on 11/2/2021 developed the 12 month working budget of $7.6 Mil. Which Tesoro Mining Chile must contribute 70% of $7.6 Mil for the development of the project. Vendor contributes 30% of it otherwise they get their ownership diluted. TSO (parent company) holds all the cash and will contribute and provide funds to Tesoro Mining Chile. I think overall we will easily spend more then the $7.6 Mil, but, understand that this would have been negotiated and the vendor isn't stupid. If it was at say $20 Mil for 12 months and the vendor didn't have the money, they lose most the ownership.... People are NOT THAT STUPID....