Cougar Energy Ltd Completes Capital Raising

Cougar Energy Ltd announced the completion of a capital raising of AUD 1.043 million (before costs), which was oversubscribed. The placement of 208,600,000 new fully paid ordinary shares at AUD 0.005 per share was made to sophisticated and professional investors in Australia under the Company's 15% issuance capacity not requiring shareholder approval pursuant to Listing Rule 7.1. The funds raised from this placement will be utilized to generate the maiden JORC resource at the Company's Mackenzie coal tenement in Queensland’s Bowen Basin; test the Mackenzie coal to confirm export markets (anticipated PCI grade), and fund working capital.