On March 1, 2024, Railtown AI Technologies Inc. closed the transaction. The company has issued 1,863,667 Units at a price of CAD 0.15 per Unit for gross proceeds of CAD 279,550 in its second and final tranche closing. Collectively across all tranches of the Offering, a total of 19,330,003 Units were issued for aggregate total gross proceeds of CAD 2,899,550 in the transaction.

In connection with the Offering, the company paid aggregate cash commissions of CAD 215,164 to eligible arm?s length finders, equal to 8% of the gross proceeds raised from purchasers introduced by such finders, and issued an aggregate of 1,793,034 non-transferable common share purchase warrants to the same Finders, equal to 10% 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 CAD 0.15 per share for a period of 24 months from the date of issuance.