Company sells 6.3 million common shares at a price of $0.05 per share
By Devika Patel
Knoxville, Tenn., July 16 - Las Vegas Railway Express, Inc. completed a $315,000 private placement of stock in tranches from June 21 to July 10, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 6.3 million common shares at $0.05 apiece, a 44.44% discount to the closing share price, $0.09, on June 20.
The Las Vegas-based company is focused on reestablishing a rail passenger train service between Las Vegas and Los Angeles.
| Issuer: | Las Vegas Railway Express, Inc.
|
| Issue: | Common stock
|
| Amount: | $315,000
|
| Shares: | 6.3 million
|
| Price: | $0.05
|
| Warrants: | No
|
| Settlement date: | Between June 21 and July 10
|
| Stock symbol: | OTCBB: XTRN
|
| Stock price: | $0.09 at close June 20
|
| Market capitalization: | $2.93 million
|
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