Company can sell shares to investor once it completes filing with SEC
By Angela McDaniels
Tacoma, Wash., June 23 – Las Vegas Railway Express, Inc. will sell up to $10 million of common stock to Ascendiant Capital Partners, LLC under a credit line facility, according to an 8-K filing with the Securities and Exchange Commission.
Ascendiant will provide the credit line under an agreement reached on April 1. The company will have the right to sell shares to the investor on a private placement basis once it makes an S-1 filing with the SEC.
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: | Credit line facility
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| Amount: | Up to $10 million
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| Warrants: | No
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| Investor: | Ascendiant Capital Partners, LLC
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| Agreement date: | April 1
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| Stock symbol: | OTCBB: XTRN
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| Stock price: | $0.15 at close June 23
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| Market capitalization: | $2.41 million
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