Cougar Metals NL (ASX:CGM) announced that it has entered into a funding agreement with Australian Special Opportunity Fund, LP, a fund managed by The Lind Partners, LLC for a private placement for gross proceeds of AUD 3,150,000 on June 6, 2018. The company will issue convertible notes for AUD 800,000 and common shares for AUD 2,350,000 in the transaction for over two years through monthly equity placements of common shares. The notes issued are subject to a lock-up period of 90 days and notes are convertible into 192,000,000 common shares of the company. The company will issue notes at discount. On the same date, the company issued convertible notes of face value AUD 360,000 and 40,000,000 options and received AUD 300,000 in its first tranche closing. The company also issued 15,000 common shares to the investor. Each option is exercisable at AUD 0.01 and will expire in 36 months. The company paid AUD 35,000 as commission in the first tranche. The second tranche closing of convertible notes with face value AUD 600,000 is subject to shareholder approval.