BioRestorative Therapies, Inc. (OTCPK:BRTX) announced a private placement of convertible promissory notes for gross proceeds of $846,638 on January 14, 2019. The notes will have fixed interest of 12% per annum. The maturity dates of the note will be between July 2019 and January 2020. The notes are issue at discount of 9.932127% on principle amount of $940,000. The notes of $280,000 is convertible into shares of the company at the election of the respective holder at a fixed price of $1 per share for the first six months following the issue date; thereafter, principal and accrued interest are convertible at the election of the holder at a conversion price generally equal to 58% of the fair value of the shares of the company; the notes of $45,000 of principal and the respective interest is convertible into shares of the shares of the company at the election of the holder after the 180th day following the issue date at a conversion price equal to 58% of fair market value of the shares of the company, and the notes of $615,000 together with accrued interest, is convertible into shares of the shares of the company at the election of the holder after the 180th day following the issue date at a conversion price generally equal to the lesser of 58% of the fair value of the company's share or $0.69 per share. The company issued to lenders a five-year warrant to purchase 40,000 shares of the company's share at an exercise price of $1 per share.