Mr. Cory Brandolini reports

RAILTOWN AI TECHNOLOGIES INC. ANNOUNCES CLOSING OF LIFE NON-BROKERED PRIVATE PLACEMENT

Railtown AI Technologies Inc. has closed its previously disclosed non-brokered private placement of units of the company. The offering consisted of seven million units at a price of 30 cents per unit for gross proceeds of $2.1-million.

Each unit consists of one common share in the capital of the company and one-half of one common share purchase warrant, with each warrant entitling the holder thereof to acquire one additional share at an exercise price of 60 cents per share for a period of 24 months.

The offering was completed pursuant to the listed issuer financing exemption (LIFE) under Part 5A of National Instrument 45-106, Prospectus Exemptions, and, therefore, any securities issuable under the LIFE are not subject to a hold period in accordance with applicable Canadian securities laws. There is an offering document related to the offering that can be accessed under Railtown's profile on SEDAR+ and on the company's website.

In connection with the offering, the company paid aggregate cash commissions of $163,680.81 to eligible arm's-length finders, equal to 8 per cent of the gross proceeds raised from purchasers introduced by such finders, and issued an aggregate of 545,602 non-transferable common share purchase warrants to the same finders, equal to 8 per cent 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 30 cents per share for a period of 24 months from the date of issuance.

Both the warrants and the finders' warrants are subject to acceleration such that if, during a period of 10 consecutive trading days prior to their respective expiry dates, the daily volume-weighted average trading price of the shares on the Canadian Securities Exchange or such other stock exchange where the majority of the trading volume occurs, exceeds $1.20 for each of those 10 consecutive days, the company may, within 30 days of such an occurrence, give written notice to the holders of the warrants and the finders' warrants that the securities will expire at 5 p.m. Vancouver time on the 30th day following the giving of notice unless exercised by the holders prior to such date. Any warrants or finders' warrants that remain unexercised at 5 p.m. Vancouver time on the 30th day following the giving of such notice will expire at that time.

The company also wishes to acknowledge that reference to the finder's warrant exercise price in the company's LIFE offering document (31 cents) was incorrect; it should have read 30 cents.

About Railtown AI Technologies Inc.

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, are the cornerstones and foundation of the Conductor platform.

The company 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 its clients to be more productive and profitable, is accessible on Microsoft's Azure marketplace.

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