Las Vegas Railway completes $2.38 million placement of convertibles

GVC Capital was the agent; proceeds fund general operating expenses

By Devika Patel

Knoxville, Tenn., April 24 - Las Vegas Railway Express, Inc. said it settled a $2.38 million private placement of convertible notes. GVC Capital LLC was the agent.

Proceeds will be used to develop the company's first prototype passenger car along with station site development costs and engineering, as well as general operating expenses.

The Las Vegas-based company is focused on re-establishing a rail passenger train service between Las Vegas and Los Angeles.

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