SOURCE: Las Vegas Railway Express, Inc
LAS VEGAS, NV--(Marketwire - Oct 12, 2012) - Las Vegas Railway Express, Inc. ("X" Train), a Delaware company (OTCQB: XTRN), is pleased to announce the company has executed an agreement with a private owner to acquire two additional Bi-Level passenger railcars for its "X Train" project. The acquisition brings the first railset to a total of 12 rail cars for the X Train. The terms of the cash purchase were not disclosed. "These railcars are to be added to the railset of passenger cars we first purchased in August of this year," stated Joseph Cosio-Barron, Asset Development Managing Director for the Company. "My charge is to acquire a total of two complete railsets for the X Train to meet the anticipated demand for the service." The first railset is the first of several which will undergo extensive renovation under the supervision of Mr. Cosio-Barron.
"X" Train President & CEO Michael A. Barron said, "We continue to acquire sets of railcars. Our plan is to include these cars into the previous purchase set and to begin renovation work later this year."
About Las Vegas Railway Express, Inc
Las Vegas Railway Express, Inc. has been planning for the establishment of a "Vegas Class" passenger train service between Los Angeles and Las Vegas since early 2009. Service departures are planned to be Thursday and Friday to Las Vegas with returns on Sunday back to Los Angeles. An introductory price of $99 each way includes Vegas Class accommodation and all-inclusive food & beverage. In addition, the "X" Train will also offer the ability for its passengers to book hotel rooms, transportation transfers, entertainment & show tickets and other travel incidentals. For more information, please visit the Company website at http://www.vegasxtrain.com.
Statements in this press release other than statements of historical fact, including statements regarding the company's plans, beliefs, and estimates as to projected market size are "forward-looking statements." Such statements are subject to certain risks and uncertainties, including factors listed from time to time in the company's SEC filings, and actual results could differ materially from expected results. These forward-looking statements represent the company's judgment as of the date of this release. The company disclaims, however, any intent of obligation to update these forward-looking statements.