PetroTerra Corp. (OTCPK:PTRA) announced a private placement of a senior convertible note for gross proceeds of $30,000 with an institutional accredited investor, Redwood Management, LLC on January 12, 2017. The note carries a fixed coupon of 12% per annum and would mature from six months after the date of closing. All principal and accrued interest under the note is due six months following the issue date. The note is convertible into common shares of the company at a conversion price equal to 50% of the lowest volume-weighted average price for the previous 10 trading days immediately preceding the conversion. The note is issued at an original issue discount of 87.5%. The note is pre-payable. The company will issue the securities pursuant to section 4(a)(2) of the act.