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Memorandum to Lease

Arctic Blue Waters’, ., received a Memorandum to Lease from Chinese Government Petro-Chemical Port Co., Ltd. outlining the terms and conditions of a formal Lease Agreement for Spirit to lease six (6) stainless steel food-grade storage tanks located at a Government port in Xiamen, China. These tanks will hold an accumulated volume of 18,000 cubic meters. Stainless steel piping is in place for off-loading the Arctic water from the tanker to the storage tanks as well as from the tanks to a truck loading station.

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