Las Vegas Railway Express, Inc. (OTC Pink: XTRN) is engaged as a passenger rail entertainment and travel company. Shares of the train company are sky-rocketing 200%, through early trading on Tuesday, May 23, 2017. Over the past month, the company has seen average daily volume of 52.72 million shares. However, volume of 1.17 billion shares or dollar volume of $702,000, has already exchanged hands on Tuesday.
Shares of Las Vegas Railway Express, Inc. are surging today, after the company announced it has accepted a tender to be acquired by X Rail Entertainment, Inc. (OTC Pink: XREE) for $20 million in cash and stock. Here is the full press release detailing of the merger and acquisition agreement:
Las Vegas Railway Express, Inc. Press Release:
LAS VEGAS, NV–(Marketwired – May 23, 2017) – X Rail Entertainment, Inc. (OTC PINK: XREE) www.xrailentertainment.com, owner of the X Wine Railroad, X Train, and Club X Train membership businesses, CEO Michael Barron announced today that the company has made a tender offer to the management of Las Vegas Railway Express, Inc. to acquire 100% of the Company’s outstanding stock, liabilities and assets in exchange for $20 million in cash and stock from X Rail Entertainment, Inc. CEO Michael Barron stated, “This is a consolidation of all of the X Train brands still held under a royalty agreement between X Rail Entertainment, Inc. (XREE) and Las Vegas Railway Express, Inc. (OTC PINK: XTRN).” The offer would deposit into XTRN the total of $20 million in cash and securities in exchange for 100% of the Company.
“This consolidation of interests is being done to benefit the many shareholders who invested in the project of running trains between LA and Las Vegas and who may have had their equity diminished,” stated Barron. “We just want all those who helped us get here have an opportunity to participate in the rewards of execution on this project.”
For further information about our company, view our website at www.xrailentertainment.com or look up our trading symbol at www.otcmarkets.com: Pink: XREE
About X Rail Entertainment, Inc. (OTC PINK: XREE)
X Rail Entertainment, Inc. is in the rail service business and operates specialty passenger trains from metropolitan areas in the US to vineyards and resort gaming/casino destinations. XREE is a licensed IATAN travel agency, http://ClubXTrain.com, which books excursion rail travel for passengers. www.xrailentertainment.com or http://www.vegasxtrain.com.