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Railtown AI Technologies Announces Closing of Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - July 15, 2024) - Railtown AI Technologies Inc. (CSE: RAIL) (OTCQB: RLAIF) ("Railtown AI'', "Railtown" or the "Company") is pleased to announce that the Company has closed its previously disclosed non-brokered private placement (the “Offering”) of units of the Company (each, a “Unit”) at a price of US$0.21 per Unit for aggregate gross proceeds of US$1,470,000. Each of the 7,000,000 Units consists 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”), with each Warrant entitling the holder thereof to acquire one additional Share at an exercise price of US$0.42 per Share for a period of 18 months.
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 US$109,162 to eligible arm’s length finders (each, a “Finder”) equal to 8% of the gross proceeds raised from purchasers introduced by such Finders, and issued an aggregate of 519,818 non-transferable common share purchase warrants (each, a “Finder’s Warrant”) to the same Finders, equal to 8% 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 US$0.21 per Share for a period of 18 months from the date of issuance.
As described in the Company’s news release dated June 20, 2024, the Company expects to use the net proceeds of the Offering for general working capital purposes.
None of the securities referenced in this news release have been or will be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
ABOUT RAILTOWN AI TECHNOLOGIES
Railtown AI, a Microsoft Partner, is a cloud-based Application General Intelligence™ Platform for Software Developers and Teams that practice Agile Project Management. We purposely built our Application General Intelligence™ Platform to help Software Developers and Agile practitioners 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.
ON BEHALF OF THE BOARD
"Cory Brandolini"
Cory Brandolini, Chief Executive Officer
INVESTOR CONTACT
Rebecca Kerswell
Investor Relations
Email: investors@railtown.ai
Weekly Chart
Research Capital Initiates Coverage
of Railtown AI With An Initial Speculative Buy Rating
Vancouver, British Columbia--(Newsfile Corp. - July 3, 2024) - Railtown AI Technologies Inc. (CSE: RAIL) (OTCQB: RLAIF) ("Railtown AI'', "Railtown" or the "Company") is pleased to announce that Research Capital Corporation (“Research”) has initiated equity research coverage of Railtown with a “Speculative Buy” rating.
The report, authored by Venkata Velagapudi, CFA, is entitled “Railtown AI Technologies: Advanced AI for Efficient Software Development”, and is posted on their corporate website at www.researchcapital.com and can be accessed by users upon registration or by contacting Mr. Velagapudi at Research Capital via email at vvelagapudi@researchcapital.com or telephone at 416.860.7652. The report is also available at www.railtownaitechnologies.com.
ABOUT RAILTOWN AI TECHNOLOGIES
Railtown AI, a Microsoft Partner, is a cloud-based Application General Intelligence™ Platform for Software Developers and Teams that practice Agile Project Management. We purposely built our Application General Intelligence™ Platform to help Software Developers and Agile practitioners 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.
ON BEHALF OF THE BOARD
"Cory Brandolini"
Cory Brandolini, Chief Executive Officer
INVESTOR CONTACT
Rebecca Kerswell
Investor Relations
Email: investors@railtown.ai
RAILTOWN AI UNVEILS VERSION 2.0
OF CONDUCTOR
Vancouver, British Columbia--(Newsfile Corp. - July 2, 2024) - Railtown AI Technologies Inc. (CSE: RAIL) (OTCQB: RLAIF) ("Railtown AI'', "Railtown" or the "Company") is pleased to announce the launch of Conductor Version 2.0, an advanced AI platform that is transforming how companies build and manage their software applications.
Conductor Version 2.0 is designed to drive new insights by seamlessly aggregating and analyzing diverse application data. By providing a holistic view of application performance and development processes, Railtown AI enables organizations to understand all aspects of their software applications. This enhanced perspective is a crucial step toward the company vision of building an Artificial General Intelligence (AGI) that manages and controls all aspects of the software application lifecycle.
"Our mission with Railtown AI has always been to empower businesses with actionable intelligence," said Marwan Haddad, CTO at Railtown AI. "With the release of Version 2.0, we're taking a giant leap forward by giving companies the tools they need to not only monitor but also optimize every aspect of their application ecosystem. This is more than just an update; it's a transformation in how we understand and manage software."
Key features of Conductor Version 2.0 include:
Integrated Data Analysis: Combining data from multiple data integrations into a single unified view.
Comprehensive Application Overview: Enabling businesses to see the full picture of their application performance and development.
Advanced Insights: Offering deeper analysis and actionable recommendations to improve application efficiency and reliability.
Conductor Version 2.0 is now available to all current and new customers.
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ABOUT RAILTOWN AI TECHNOLOGIES
Railtown AI, a Microsoft Partner, is a cloud-based Application General Intelligence™ Platform for Software Developers and Teams that practice Agile Project Management. We purposely built our Application General Intelligence™ Platform to help Software Developers and Agile practitioners 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.
ON BEHALF OF THE BOARD
"Cory Brandolini"
Cory Brandolini, Chief Executive Officer
INVESTOR CONTACT
Rebecca Kerswell
Investor Relations
Email: investors@railtown.ai
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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.
Weekly Chart
Railtown AI Technologies Inc. Announces Partnership with the Mila Institute to Accelerate Railtown’s Advanced AI Initiatives
June 25, 2024
Vancouver, British Columbia–(Newsfile Corp. – June 25, 2024) – Railtown AI Technologies Inc. (CSE: RAIL) (OTCQB: RLAIF) (“Railtown AI”, “Railtown” or the “Company“) is pleased to announce a strategic partnership with the Mila-Quebec AI Institute (“Mila”), providing the Company with expansive access to AI Engineering talent and non-dilutive funding.
This partnership grants Railtown privileges such as recruitment, training, and access to Mila workspaces, as well as privileged and funded access for conducting applied research projects with Mila, in addition to corporate visibility across Mila’s website and marketing materials, Mila’s research, events, conferences, and business opportunities related to Mila startups.
Mila is internationally renowned for its significant contributions to generative artificial intelligence and machine learning (ML). The collaboration will further strengthen Railtown’s relationship within the research and developer communities, promote its platform and product innovations, and expand access to a growing pool of domestic and global ML talent; additionally, Railtown will have exposure to Mila’s continued research findings.
“With multiple large projects in our pipeline, partnering up with the Mila Institute will allow us to accelerate our time to market with each new product release. This partnership is a vote of confidence that will drive Railtown AI’s roadmap and bring our AGI closer to customers around the globe,” states CEO Cory Brandolini.
About Mila
Mila – Quebec Artificial Intelligence Institute, is recognized worldwide for its major contributions to AI. Today, the Mila community boasts the largest concentration of deep learning academic researchers globally. The institute is recognized for its expertise and significant contributions in areas such as modeling language, machine translation, object recognition and generative models.
Since its inception, Mila focuses its mission on core research areas such as health, environment and climate change, and AI ethics. Mila extends its expertise and leadership in AI to deliver advances that will benefit all of society. Research carried out at Mila is conducted using an Open Science approach to promote collaboration and foster knowledge transfer.
About Railtown AI Technologies
Railtown AI, a Microsoft Partner, is a cloud-based Application General Intelligence™ Platform for Software Developers and Teams that practice Agile Project Management. We purposely built our Application General Intelligence™ Platform to help Software Developers and Agile practitioners 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.
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ON BEHALF OF THE BOARD
“Cory Brandolini” Cory Brandolini, Chief Executive Officer
INVESTOR CONTACT
Rebecca Kerswell
Investor Relations and Marketing
Email: investors@railtown.ai
Phone: (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.
https://railtownaitechnologies.com/railtown-ai-technologies-inc-announces-partnership-with-the-mila-institute-to-accelerate-railtowns-advanced-ai-initiatives/
Weekly Chart
See you in dollar land real soon.
This is a Canadian company based in Burnaby, Canada.
Railtown AI Technologies Inc. develops artificial intelligence (AI) based platform for software developers in Canada. It offers Railtown AI, an AI-driven platform that preforms a variety of functions comprising understanding the root cause of every issue at the earliest stage of the development pipeline, knowledge around the history of documentation, builds, deployments, assigned tasks, and engineering performance, as well as velocity to preforming tasks comprising automated progress reports, and ticket and documentation generation.
The company was formerly known as Railtown Capital Corp. and changed its name to Railtown AI Technologies Inc. in August 2019. Railtown AI Technologies Inc. was incorporated in 2011.
The stock is listed on the Canadian exchange under RAIL.CN and recently listed on the pink sheets under RLAIF.
