X Train Holdings (OTCQB: XTRN) Inks Securities Purchase Agreement With Ascendiant Capital Partners for up to $10 Million
April 15 2014 - 10:49AM
Marketwired
X Train Holdings (OTCQB: XTRN) Inks Securities Purchase Agreement
With Ascendiant Capital Partners for up to $10 Million
LAS VEGAS, NV--(Marketwired - Apr 15, 2014) - X Train Holdings
(OTCQB: XTRN), a consolidator of independently owned passenger rail
operators and operator of rail entertainment facilities, announced
today that the Company has executed a Securities Purchase Agreement
with Ascendiant Capital Partners ("Ascendiant") to provide up to
$10 million in capital.
Ascendiant Capital Partners is the parent company of Ascendiant
Capital Markets, a full-service investment banking, equity
research, market making, and securities trading firm focused on
public companies, and institutional and accredited
investors.
X Train intends to use capital from the facility with Ascendiant
Capital Partners to acquire existing passenger rail service
companies, and for general working capital purposes on an as-needed
basis.
"We are very pleased to have a facility in place with Ascendiant
Capital Partners to help fund our acquisition and operational
strategies," stated Michael Barron, Chairman and CEO of X Train
Holdings. "We considered several alternatives that were
available to us, and ultimately determined that Ascendiant's
facility will give our Company the most control, flexibility, and
convenience," he added.
"Unlike traditional equity-based financing facilities,
Ascendiant's Share Purchase Agreement is structured so that the
amount and pricing of each tranche of capital is pre-determined at
the time the line is accessed," continued Mr. Barron. "We view
it as a series of private placement transactions in which
Ascendiant will purchase common stock at agreed-upon amounts and
prices at the Company's discretion as capital is needed."
Subject to the terms and conditions of the Securities Purchase
Agreement, the Company shall have the right to issue and sell to
Ascendiant, and Ascendiant shall be obligated to purchase from the
Company, from time to time, up to $10,000,000 worth of shares of
common stock on a private placement basis. Details of the
transaction will be provided by the Company via an 8-K filing with
the SEC.
X Train Holdings provides capital access for infrastructure
growth, asset deployment, marketing reach via its call center and
logistics and operations management, all designed to lower costs
and improve margins to the rail operator. Affiliates pay a fee only
on the incremental cost and bottom line net increase and sellers
can receive cash for their business. The Company is actively
seeking such opportunities and currently represents 20 independent
passenger rail companies. Interested parties should contact Brian
Harrington at 702-401-2160 or email at
bharrington@xtraincorp.com
About X Train Holdings Las Vegas Railway Express, Inc., d/b/a X
Train Holdings (OTCQB: XTRN), has developed a robust infrastructure
of call center, travel agency, logistics planning management, food
& beverage, and unique passenger rail cars of the purpose of
acquiring or affiliating privately owned passenger rail companies
under the X Train Holdings umbrella. Independently owned and
operated passenger rail companies can enlist the services of X
Train to grow market share, improve operating margins by
consolidating costs, and providing access to capital for asset
purchase, repair, and improvement. By consolidating either
acquired companies and/or affiliated companies, X Train Holdings
can create economies of scale for its array of member companies.
This is much more difficult for smaller privately held companies
where the principals frequently must guarantee personally capital
purchases or loans. X Train Holdings may be able to relieve that
burden and provide a path to liquidity should owners wish to sell.
XTRN is continuing to pursue opening the Southern California to Las
Vegas corridor to passenger rail service as well.
X Train Holdings has a Board of Directors representing both the
rail industry and Wall Street capital markets. For more
information, please visit the Company website at
www.vegasxtrain.com.
About Ascendiant Capital Partners
Ascendiant Capital Partners LLC makes direct investments in
publicly traded, emerging growth companies. It is the parent
company of Ascendiant Capital Markets LLC which is a member of the
Financial Industry Regulatory Authority (FINRA) and is registered
as a broker-dealer with the Securities and Exchange Commission
(SEC). Ascendiant Capital Partners and its affiliates target a
wide spectrum of industries through investments in small-cap and
micro-cap publicly traded companies. For more information,
please visit www.ascendiant.com
Contacts: Success City Online Ms. Maria Bailey
Maria@successcityonline.com (702) 271-0591 Las Vegas Railway
Express, Inc. Broker & Investor Inquiries Worldwide Financial
Marketing, Inc. USA Communications & Investor Relations
www.wwfinancial.com O (954) 360-9998 F (954) 360-9881
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