Company sells 18.5 million common shares at a price of $0.05 each
By Devika Patel
Knoxville, Tenn., June 20 - Las Vegas Railway Express, Inc. completed a $925,000 private placement of stock in tranches from May 17 to June 20, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 18.5 million common shares at $0.05 apiece, a 37.5% discount to the closing share price, $0.08, on May 16.
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: | $925,000
|
| Shares: | 18.5 million
|
| Price: | $0.05
|
| Warrants: | No
|
| Settlement dates: | Between May 17 and June 20
|
| Stock symbol: | OTCBB: XTRN
|
| Stock price: | $0.08 at close May 16
|
| Market capitalization: | $4 million
|
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