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Vancouver, British Columbia--(Newsfile Corp. - November 28, 2024) - Railtown AI Technologies Inc. (CSE: RAIL) ("Railtown" or the "Company") is pleased to announce the non-brokered private placement of up to 7,000,000 units of the Company (each, a "Unit") at a price of $0.30 per Unit for aggregate gross proceeds of up to $2,100,000 (the "Offering") previously announced on November 26, 2024, has been fully subscribed; closing is expected to occur on or before December 6, 2024. Each Unit will consist of one common share in the capital of the Company (each, a "Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one additional Share at an exercise price of $0.60 per Share for a period of 24 months from the closing date of the Offering.

The Offering is being completed pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 Prospectus Exemptions (the "LIFE Exemption"). Any securities issuable under the LIFE Exemption will not be subject to a hold period in accordance with applicable Canadian securities laws.

An offering document related to the Offering is available under the Company's profile at www.sedarplus.ca and on the Company's website www.railtown.ai. Prospective purchasers should read this offering document before making an investment decision.

About Railtown AI Technologies

Railtown AI, a Microsoft Partner, has developed a cloud-based Application General Intelligence™ Platform called Conductor. Artificial intelligence and automation that performs tasks as well as streamlining, enhancing, and accelerating Developer Productivity Engineering (DPE) through Speed, Quality, Automation and Best Practices which are the cornerstones and foundation of the Conductor platform.

We purposely built the Conductor platform to help Software Companies and Software Developers save time on redundant tasks, improve productivity, drive down costs, and accelerate developer velocity. Railtown's proprietary AI technology, designed to enable our clients to be more productive and profitable, is accessible on Microsoft's Azure Marketplace.

Follow us on social media:

• Twitter: https://twitter.com/railtown_ai

• LinkedIn: https://www.linkedin.com/company/railtown-ai/

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ON BEHALF OF THE BOARD

"Cory Brandolini"
Cory Brandolini, Chief Executive Officer

INVESTOR CONTACT

Rebecca Kerswell
Investor Relations
Email : investors@railtown.ai
Phone : 1-604-417-4440

This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-Looking statements are often identified by terms such as "will," "may," "should," "intends," "anticipates," "expects" and similar expressions. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the future plans and objectives of the Company, 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 risks detailed from time to time in the filings made by the Company with securities regulators.

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

***NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES.***

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231747