Railtown AI Technologies Inc. announced a non-brokered private placement of up to 16,666,667 units at a price of CAD 0.15 per unit for aggregate gross proceeds of up to CAD 2,500,000.05 on January 31, 2024. Each unit will consist of one common share in the capital of the company and one-half of one common share purchase warrant. Each Warrant will entitle the holder thereof to acquire one additional Share at an exercise price of CAD 0.30 per share for a period of 24 months from the closing date of the Offering.

The company may pay eligible finders a cash commission equal to 8% of the gross proceeds raised from purchasers introduced by such Finders and/or issue to such finders that number of non-transferable common share purchase warrants equal to 10% of the number of units sold to purchasers introduced by such Finders. Each Finder's Warrant will entitle the holder thereof to acquire one Share at an exercise price of CAD 0.15 per Share for a period of 24 months from the date of issuance. The Offering may close in tranches, with the first tranche expected to close on or around February 10, 2024.

The Offering is subject to certain conditions including, but not limited to, receipt of all necessary approvals including the approval of the CSE.