Company sells 45.64 million shares at $0.05 each over four months
By Toni Weeks
San Diego, Sept. 18 - Las Vegas Railway Express, Inc. announced it has closed its private placement of stock, raising a total of $2.28 million over a four-month period.
The company sold 45.64 million shares in multiple tranches between May 3 and Sept. 13.
Proceeds will be used to acquire the company's first railset, for station site development costs and for engineering and general operating expenses.
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.
|
| Issue: | Common stock
|
| Amount: | $2,282,000
|
| Shares: | 45.64 million
|
| Price: | $0.05
|
| Warrants: | No
|
| Settlement dates: | Between May 3 and Sept. 13
|
| Stock symbol: | OTCBB: XTRN
|
| Stock price: | $0.08 at close May 2
|
| Market capitalization: | $19.88 million
|
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