Railtown AI Technologies Inc announced a non-brokered private placement of 5,416,667 units at a price of $0.12 per unit for gross proceeds $650,000.04 on June 3, 2024. Each unit will consist of one common share and one-half of a common share purchase warrant of the Company, with each whole warrant exercisable for a period of 18 months from the date of closing at a price of $0.24 per share. Finder?s fees or commissions may be payable to certain eligible persons.

All securities issued in connection with the private placement to US shareholders are subject to US resale restriction, while any Canadian subscribers are subject to a 4-month hold period in Canada. Closing is expected to occur by Friday June 7, 2024. The terms of the financing are subject to applicable securities laws and regulatory approval.