Migrating Windows RP application to Windows 8 RTM – XAMLParseException

After I installed new Windows 8 with new Visual Studio 2012 I expected smooth migration of my projects. However one small issue cost me about one hour of investigation. I checked “Migrating your Release Preview app to Windows 8″ doc but I didn’t find any information about my issue. So I am sharing following post that I hope will save someone’s time.