SOURCE: Las Vegas Railway Express, Inc
LAS VEGAS, NV--(Marketwire - Aug 28, 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 its first set of passenger railcars for its "X" Train project. The acquisition brings the first railset to "X" Train officials upon which the refurbishment is scheduled to begin early next year. The terms of the cash purchase were not disclosed.
"These railcars are the genesis of our product and signal the beginning of the design and refurbishment process. When complete, the 'X' Train will establish a new, exciting and innovative travel experience for travelers between Los Angeles and Las Vegas," stated Joseph Cosio-Barron, Asset Development Managing Director for the Company. The ten car 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 have acquired the first set of railcars and are expecting to begin renovation work later this year. Our plan is to use this first railset as our operating prototype and as a model for future cars."
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.