Railtown AI Technologies Inc. announced a private placement to issue 7,000,000 units at an issue price of $0.21 per unit for the gross proceeds of CAD 1,470,000 on June 20, 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 $0.42 per share. Finders' fees or commissions may be payable to certain eligible persons.

All securities issued in connection with the private placement to United States shareholders are subject to U.S. resale restriction, while any Canadian subscribers are subject to a four-month hold period in Canada. The offering may close in tranches, with the first tranche expected to close on or around July 2, 2024. The terms of the financing are subject to applicable securities laws and regulatory approval.