LAS VEGAS, NV, Oct. 18, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Las Vegas Railway Express, Inc. (OTCPK: XTRN), has been approved for a name and symbol change. The company, a short line railroad consolidator and short line railroad insurer, today announced that it has been approved by FINRA for a name and symbol change. The name is officially United Rail, Inc. and the new trading symbol is URAL. A temporary symbol for 20 trading days is “XTRND.”
“Our plan is to consolidate the smaller and sometimes overlooked short lines and passenger excursions and consolidate them under the United Rail Inc. banner,” said Michael Barron, CEO of United Rail Inc.
Mr. Barron added, “With the inclusion of United Short Line Insurance Services (USIS) under the United Rail Inc. umbrella, we now have a pathway to effectively reach those small railroad companies who wish to sell.”
Lou Schillinger, President of USIS and the new President of United Rail Inc., added, “Our insurance products are tailored to the short line railroad industry and many of the smaller companies in this space are already clients of USIS. This will give us a leg up on contacting and closing these rail properties and afford the sellers a path to liquidity. We are very pleased to be part of the exciting program United Rail Inc. has planned.”
The company already has an active pipeline of five short line railroads it is currently negotiating with to acquire their operations totaling $7.7 million in revenue and an additional $2.3 million in earnings.
About United Rail Inc.
United Rail, Inc. is in the business of acquiring short line railroads in both the passenger operations sector as well as freight operations. The company has been active in this space for five years. It has operated both passenger rail excursions and short line freight operations and plans to develop rail infrastructure projects and terminal operations.
Forward-looking Statements
This press release may contain forward-looking statements regarding United Rail Inc. f/k/a Las Vegas Railway, Express, 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. The Company 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.