Las Vegas Railway terminates its $10 million common stock credit line

Company had planned to sell its shares to Ascendiant Capital Partners

By Devika Patel

Knoxville, Tenn., June 27 – Las Vegas Railway Express, Inc. canceled plans to sell up to $10 million of common stock to Ascendiant Capital Partners, LLC under a credit line facility on June 24, according to an 8-K filing with the Securities and Exchange Commission. The agreement was negotiated on April 1.

The company had planned to sell shares to Ascendiant on a private placement basis once it made 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.

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