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Reg A to provide funding for acquisition of short line railroads and passenger excursions
LAS VEGAS, NV, May 17, 2018 (GLOBE NEWSWIRE) -- Las Vegas Railway Express, Inc. (OTCPK: XTRN), dba United Rail Inc., owner of the X Train brand and brand licensor, today announced that it has filed a Reg A with the SEC for a fixed price offering of $5 million.
“We have filed this offering with the SEC in order to provide sufficient capital to acquire several short line railroad targets that the Company has identified. Our plan is to consolidate the smaller and sometimes overlooked short lines and passenger excursions and consolidate them under the United Rail Inc. banner,” said Michael Barron, CEO of United Rail Inc.
Mr. Barron continued, “With the inclusion of United Short Line Insurance Services (USIS) under the United Rail Inc. umbrella, we now have a pathway to effectively reach those small railroad companies who wish to sell.”
Lou Schillinger, President of USIS and the new President of United Rail Inc. added, “Our insurance products are tailored to the short line railroad industry and many of the smaller companies in this space are already clients of USIS. This will give us a leg up on contacting and closing these rail properties and afford the sellers a path to liquidity. We are very pleased to be part of the exciting program United Rail Inc. has planned.”
About Las Vegas Railway Express
Las Vegas railway Express, Inc. is in the business of acquiring short line railroads in both the passenger operations sector as well as freight operations. The company has been active in this space for five years. It has operated both passenger rail excursions and short line freight operations and plans to develop rail infrastructure projects and terminal operations. It also has licensed X Rail Entertainment, Inc. to use the X Train brand on its planned LA to Vegas X Train service. Revenues from the licensing are calculated at 5% of the operating revenue of X Rail's revenue derived from the deployment of the X Train brand on X Rail's operating trains.
This press release may contain forward-looking statements regarding Las Vegas Railway, Express, Inc. (the “Company”) within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are “forward-looking statements”, including statements regarding: the financial outlook of the Company, the general ability of the Company to achieve its commercial objectives; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects,” “anticipates,” “seeks,” “should,” “could,” “intends,” or “projects” or similar expressions, and involve known and unknown risks and uncertainties. The Company’s actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, and may be beyond the Company’s ability to foresee or control. The Company does not undertake an obligation to update or revise any forward-looking statements, and all forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date hereof.