COLORADO SPRINGS, Colo., Oct. 16, 2015 /PRNewswire/ -- PetroTerra Corp. (OTCQB: PTRA)("PetroTerra" or "the Company"), an independent oil and gas exploration company currently focused on the Sevier and Beaver Oil Project in west central Utah, announces today the below statement regarding promotional activities surrounding the Company's common stock.
On October 14, 2015, OTC Markets informed the Company that it has become aware of certain promotional activities concerning PetroTerra and its common stock. Included among the activities were certain promotional newsletter emails encouraging investors to purchase the Company's common stock. The mailer's disclaimer in these promotional newsletters indicated that an entity, Mass Peak Ltd., was paid $150,000 for the creation and distribution of these newsletters to their member base. This promotional activity coincided with higher than average trading volume and fluctuations in the Company's stock price. The Company is unaware of the full nature and content of this promotional activity, and who may be responsible and the extent of the email newsletters' dissemination.
The Company states definitively that the Company, its officers, directors and, to the Company's knowledge, any controlling shareholders (i.e., shareholders owning 10% or more of the Company's securities) have not, directly or indirectly, authorized or been involved in any way (including payment to a third-party) with the creation or distribution of promotional materials including these email newsletters; and that the Company, its officers, directors and, to the knowledge of the Company, any controlling shareholders, have not sold or purchased the Company's securities within the past two years.
"For the record, the Company is not affiliated with the promotional materials' author or its affiliated entities or persons. The Company's recent press releases have reported on and provided disclosure of legitimate and ongoing corporate activity only, and are not part of any promotional activities or campaign," stated John Barton, CEO of PetroTerra. The Company is solely focused on executing its stated business plan. Because the oil and gas exploration business has numerous and significant risks, PetroTerra encourages those interested in the Company to rely solely on information included in official Company press releases, Website content, and filings and disclosures made with the Securities and Exchange Commission. For a more comprehensive discussion of the risks surrounding trading of our common stock, including the risk posed by the lack of an active, liquid market, investors should refer to the "risk factors" listed in the Company's most recent annual report (Form 10-K).
The Company further notes that, as disclosed in the Company's annual and quarterly reports filed with the SEC, the Company has not issued at any point convertible instruments allowing conversion to equity securities at prices constituting a discount to the market rate of our common stock.
PetroTerra Corp. (OTCQB: PTRA) is an independent oil and gas exploration company based in Colorado Springs, Colorado. The Company is engaged in identifying, evaluating and developing early stage onshore oil and gas opportunities in the domestic US. The Company's strategy is to focus on a step-by-step approach to assets that are located in high potential, proven basins and to prudently develop and manage those assets to create maximum value for shareholders. The Company's current focus is on the Sevier and Beaver Oil Project in west central Utah. The Company owns a 100% working interest and 80% net revenue interest in the project.
To learn more about PetroTerra Corp., please visit: http://www.petroterracorp.com/.
Cautionary Statement Regarding Forward Looking Information
This press release includes "forward-looking statements" intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These statements include statements about our plans, strategies, financial performance, prospects or future events and involve known and unknown risks that are difficult to predict. As a result, our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "will," "would" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by PetroTerra and its management team, are inherently uncertain. A more complete description of these risks and uncertainties can be found in our filings with the U.S. Securities and Exchange Commission. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.
422 East Vermijo Avenue
Colorado Springs, Colo. 80903
Investor Relations Contact
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New York, NY 10022
Toll Free: 1-800-787-2062
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SOURCE PetroTerra Corp.