Company sells 3 million common shares to single investor at $0.05 each
By Devika Patel
Knoxville, Tenn., May 11 - Las Vegas Railway Express, Inc. completed a $150,000 private placement of stock with a single investor on May 3, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 3 million common shares at $0.05 apiece, a 37.5% discount to the closing share price, $0.08, on May 2.
The Las Vegas-based company is focused on re-establishing a rail passenger train service between Las Vegas and Los Angeles.
Issuer: | Las Vegas Railway Express, Inc.
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Issue: | Common stock
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Amount: | $150,000
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Shares: | 3 million
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Price: | $0.05
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Warrants: | No
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Settlement date: | May 3
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Stock symbol: | OTCBB: XTRN
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Stock price: | $0.08 at close May 2
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Market capitalization: | $3.11 million
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