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Las Vegas Railway Express, Inc. Completes $1.75 Million Financing
Date : 11/26/2013 @ 6:30AM
Source : Marketwired
Stock : Las Vegas Railway Express, Inc. (QB) (XTRN)
Quote : 0.0379 0.0009 (2.43%) @ 4:31PM

Las Vegas Railway Express, Inc. Completes $1.75 Million Financing
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Today : Tuesday 26 November 2013
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Las Vegas Railway Express, Inc. Completes $1.75 Million Financing

LAS VEGAS, NV--(Marketwired - Nov 26, 2013) - Las Vegas Railway Express, Inc. ("X" Train) (OTCQB: XTRN) today announced that it has completed a $1.75 million senior convertible note offering to one institutional investor.

Net proceeds from the offering are intended to be used to fund the completion and deployment of the X-Train's first prototype passenger cars.

Michael Barron, President and CEO of X-Train said, "This financing brings us closer to realizing our vision of returning luxury to rail travel. These passenger cars are a critical part of our overall passenger rail plan. We are now in a position to get back to business and focus on developing and expanding our services."

About Las Vegas Railway Express, Inc
Las Vegas Railway Express, Inc., the X Train, is a publicly traded company (OTCQB: XTRN) that is currently in the process of designing and implementing a luxury train service from the Los Angeles basin to Las Vegas known as Club X. The service will utilize conventional rail rights of way and passenger rail equipment -- outfitted in a First Class configuration -- to deliver a new, exciting and cost efficient way for rail passengers to travel. The company is hopeful it can deploy its Club X service onto existing railroad operations in the US who are seeking a first class service option for their ridership. For more information, please visit the Company website at http://www.vegasxtrain.com.

Statements in this press release other than statements of historical fact, including statements regarding the company's plans, beliefs, and estimates as to projected market size are "forward-looking statements." Such statements are subject to certain risks and uncertainties, including factors listed from time to time in the company's SEC filings, and actual results could differ materially from expected results. These forward-looking statements represent the company's judgment as of the date of this release. The company disclaims, however, any intent of obligation to update these forward-looking statements.

The securities described above were sold by the Company in private placements and were not registered under the Securities Act of 1933, as amended (the "Securities Act"). The securities were sold in reliance upon exemptions from the registration requirements of the Securities Act pursuant to Regulation D promulgated under the Securities Act. Therefore, the securities may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act of 1933 and any applicable state securities laws. This press release does not constitute an offer to sell any securities or a solicitation of an offer to purchase any securities.

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