On June 7, 2024, Railtown AI Technologies Inc. closed the transaction. The company announced that it has issued 5,281,503 Units at a price of $0.12 per unit for the gross proceeds of $633,780.36. 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.

All securities issued in connection with the Offering are subject to a standard hold period of four months and one day in Canada plus applicable resale restrictions in the United States. In connection with the Offering, the Company paid aggregate cash commissions of $27,580 to eligible arm?s length finders equal to 7% of the gross proceeds raised from purchasers introduced by such Finders, and issued an aggregate of 229,833 non-transferable common share purchase warrants to the same Finders, equal to 7% of the number of Units sold to purchasers introduced by such Finders. Each Finder?s Warrant entitles the holder thereof to acquire one Share at an exercise price of $0.125 per Share for a period of 60 months from the date of issuance.