Railtown AI Technologies Inc. Announces No-Broker Private Placement

Vancouver, British Columbia–(Newsfile Corp. – June 4, 2024) – Railtown AI Technologies Inc. (CSE: RAIL) (OTCQB: RLAIF) (“Railtown AI”, “Railway town“or the”Business“) announces that it proposes to raise up to US$650,000 through a non-brokered private placement with strategic investors, primarily located in the United States. The placement will include up to 5,416,667 units in price of US$0.12 per Unit Each Unit will consist of one common share and one-half of one common share purchase warrant of the Company, each whole warrant exercisable for a period of 18 months from the closing date at a price of US$0.24 per share.

Finder’s fees or commissions may be payable to certain eligible persons. All securities issued in the private placement to U.S. shareholders are subject to resale restrictions in the United States, while any Canadian subscriber is subject to a 4-month hold period in Canada.

The terms of the financing are subject to applicable securities laws and regulatory approval. Additional details regarding the Offer can be found in Form 9 filed under the rules of the Canadian Securities Exchange, a copy of which is available on www.thecse.com under the Company’s profile.

The gross proceeds of the private placement will be used for general working capital purposes. Closing is expected to occur by Friday, June 7.^th2024.

About Railtown AI Technologies

Railtown AI, a Microsoft Partner, is a cloud-based Application General Intelligence™ platform for software developers and teams practicing agile project management. We purposefully created our Application General Intelligence™ platform to help software developers and Agile practitioners save time on redundant tasks, improve productivity, reduce costs, and increase developer velocity. Railtown’s proprietary AI technology, designed to enable our customers to be more productive and profitable, is available on Microsoft’s Azure Marketplace.

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ON BEHALF OF THE COUNCIL

“Cory Brandolini” Cory Brandolini, President and CEO

INVESTOR CONTACT

Rebecca Kerswell
Vice President, Investor Relations and Marketing
Email: [email protected]
Telephone: (604)417-4440

This press release contains forward-looking statements regarding the Company’s future operations and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “intend”, “anticipate”, “expect” and similar expressions. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the Company’s future plans and objectives are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are the risks detailed from time to time in the Company’s filings with securities regulators.

Readers are cautioned that assumptions used in preparing any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those anticipated, due to numerous known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s control. Therefore, the Company cannot guarantee that any forward-looking statement will materialize, and readers should not place undue reliance on any forward-looking information. This information, although considered reasonable by management at the time of its preparation, may prove to be incorrect and actual results may differ materially from those anticipated. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release and the Company will only publicly update or revise the included forward-looking statements as expressly required by Canadian securities law.

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