OXIS International, Inc. (OTCPK:OXIS) announced that it has entered into a securities purchase agreement for a private placement of nine 10% senior convertible debenture due June 30, 2017 for gross proceeds of $435,276 with four accredited investors on January 9, 2017. The debenture carries a fixed coupon of 10% per annum. The debenture is convertible into common shares of the company at a conversion price of $0.05 or the average of the three lowest intra-day trading prices of the common stock during the 20 trading days immediately prior to the date on which the notice of conversion is delivered to the company. The company also issued warrants for the purchase of common shares of the Company at the exercise price of $0.05 per share for a period of five years. The company issued the securities pursuant to exemption provided under Regulation D.