PetroTerra Corp. (OTC Pink: PTRA) is engaged as an independent oil & gas acquisition and development company. Shares of the oil & gas company are sky rocketing 133.33%, through early trading on Tuesday, April 4, 2017. Over the past month, PetroTerra Corp. has seen average daily volume of 7,052 shares. However, volume of 1.37 million shares or dollar volume of $82,200, has already exchanged hands on Tuesday.
Shares of PetroTerra Corp. are surging today, after the company announced that has executed a Share Exchange Agreement with Save on Transport, Inc., a Florida-based company. Through a reverse merger, the two companies have merged together and Steven Yariv will serve as the CEO and chairman of the new company. The newly merged company is forecast to generate $7 million annually. Here is the full press release detailing of the completed merger:
PetroTerra Corp. Press Release:
WEST PALM BEACH, Fla., April 04, 2017 (GLOBE NEWSWIRE) — PetroTerra Corp. (“PTRA” or the “Company”) (PTRA), announced today that it has executed a Share Exchange Agreement (the “Share Exchange Agreement”) with Save on Transport Inc., a Florida corporation (“Save on Transport”), pursuant to which Save on Transport became a wholly-owned subsidiary of ours (the “Reverse Merger”). In the Reverse Merger, we purchased all of the issued and outstanding common stock of Save on Transport from Steven Yariv. In connection with the Reverse Merger, Steven Yariv was appointed Chief Executive Officer and elected as the Chairman of our Board of Directors.
Save on Transport is a Florida based non-asset provider of integrated transportation management solutions, providing brokerage and logistics services such as transportation scheduling, routing and other value added services related to the transportation of automobiles and other freight. Annual gross revenues for the merged entity is expected to exceed $7 Million annually.
About PetroTerra Corp.
PetroTerra Corp. operates through its wholly owned subsidiary, Save on Transport Inc., as a Florida based non-asset provider of integrated transportation management solutions. We provide brokerage and logistics services such as transportation scheduling, routing and other value added services related to the transportation of automobiles and other freight, which involve the use of independent contractor-owned trucks and equipment.
The above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as “anticipate,” “appear,” “believe,” “could,” “estimate,” “expect,” “hope,” “indicate,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “project,” “seek,” “should,” “will,” “would,” and other variations or negative expressions of these terms, including statements related to expected market trends and the Company’s performance, are all “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances, and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company’s expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based except as required by applicable law and regulations.