Las Vegas, NV., Jan. 17, 2018 (GLOBE NEWSWIRE) —
X Rail Entertainment Inc. (OTC PINK: XREE) www.xrailenterprises.com, a company that is developing passenger rail service from Southern California to Las Vegas, and the operator of X Wine Railroad www.xwinerailroad.com, announced today that it has entered into an EzPAS offering agreement with GPL Ventures, LLC a Manhattan-based Investment fund. Under the terms of the EzPAS agreement, the Company will be entitled to sell, at its discretion and from time to time, shares of its common stock up to an aggregate sales price of up to $50 million to GPL Ventures.
Michael Barron, Chairman and CEO of X Rail Entertainment said, “We are very pleased to be working with GPL Ventures once again as they have a demonstrated record of success in financing emerging growth companies. This financing takes us one step closer to the launch of our X Train that will connect Los Angeles to Las Vegas, a passenger rail service experience like none other in the world.”
X Rail Entertainment plans to use any proceeds from this offering for operational and start-up expenses for the proposed passenger rail service from Los Angeles to Las Vegas that is scheduled to begin in early June of 2018.
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 resort gaming/casino destinations. XREE has three operating divisions, Las Vegas Railway Express (an LA to Vegas passenger train), X Wine Railroad, and Club X — our membership club. The company owns a licensed IATIAN travel agency, X Train Vacations which books excursion rail travel for passengers.
This press release may contain forward-looking statements regarding X Rail Entertainment, 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. X Rail Entertainment 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.