<<Stockholders will receive an attractive stock certificate, shareholder pin and discounts on train rides and gift shop merchandise.>>
No mention of a return on their investment....
Dennis
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Monday October 5, 6:02 pm Eastern Time
Company Press Release
Residents of All 50 States Can Now Buy Skunk Train Stock
FORT BRAGG, Calif.--(BUSINESS WIRE)--Oct. 5, 1998--Residents of all 50 states can now purchase shares in the historic Skunk Train.
California Western Railroad announced today a finding that, because the Railroad engages in interstate commerce and has received authority for its stock offering by the California Public Utilities Commission (CPUC), it can now broaden its market for share sales.
''Some restrictions may still apply in a few states, but we are pleased that we are now able to expand the offering beyond the initial four states in which we registered,'' said California Western Railroad President Gary Milliman.
''We have received a significant amount of inquiries from residents of other states, which caused us to review the regulations regarding offerings in those states,'' Milliman said. ''We found that, as a regulated public utility, our stock can be offered in many additional states without any additional registration.''
The California Western Railroad (commonly known as the Skunk Train) stock offering, which began in late August, has been cleared by the federal Securities and Exchange Commission.
Stock is available at $7.50 per share, with a minimum 100 share purchase. An offering circular can be obtained by calling 707/961-4414, writing to California Western Railroad at P.O. Box 1265, Fort Bragg, CA 95437, or by visiting the Railroad's web site at www.skunktrain.com. Shares are being sold directly by the company.
The Railroad is seeking to raise $4.6 million from the Direct Public Offering. Proceeds will be used for track repairs, expanding service, purchasing additional equipment, improving buildings and facilities, and retiring debt.
Stockholders will receive an attractive stock certificate, shareholder pin and discounts on train rides and gift shop merchandise. A limited-issue, old-fashioned stock certificate is also available.
The Railroad began operations in 1885 and became widely known for its excursion trips through the Redwoods beginning in the 1920s. California Western operates excursion trains year-round, and also provides freight service. A group consisting primarily of Mendocino County business people purchased the Railroad in 1996.
Note to Editors: Color photos available upon request.
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Contact:
California Western Railroad
Gary Milliman, 707/961-2900
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