Tiger Oil and Energy, Inc announced that it has entered into a security purchase agreement with GW Holdings Group, LLC for four convertible promissory notes for gross proceeds of $157,750 on January 24, 2018. The 10% convertible redeemable promissory first note has the principal amount of $78,750, and the second third and fourth 10% convertible redeemable promissory notes have $26,250 each. Each note bears interest at the rate of 10% per annum, and is due and payable on January 24, 2019. The buyer may, at any time, send in a notice of conversion to the company for interest shares. In connection with each back-end note, the investor issued three recourse promissory notes to the in the principal amount of $26,250 to offset the back-end note and secured by the back-end note. During the first six-month period after the first Note is issued, the company may redeem the first note by paying to an amount equal to 135% of the face amount plus any accrued interest during the first 90 days after issuance; 145% of the face amount plus any accrued interest from the 91st day through the 150th day after issuance; and 150% of the face amount plus any accrued interests from the 151st day through the 180th day after issuance. The first note may not be prepaid after the 180th day after issuance. The investor may convert all or any amount the principal face amount of the notes then outstanding and accrued interest into shares at a price per share equal to 50% of the lesser of the lowest closing bid or the lowest trading price: twenty prior trading days, including the day upon which a notice of conversion is received by the company, or the twenty prior trading days immediately preceding the issuance date of the notes. The 10% convertible redeemable first promissory note is exchangeable for an equal aggregate principal amount of Notes of different authorized denominations. The company paid a total of $7,500 as the legal fee which constitutes of $3,750 with reference to note 1 and $1,250 each with respect to remaining notes.