Vancouver, British Columbia--(Newsfile Corp. - July 12, 2024) - Railtown AI Technologies Inc. (CSE: RAIL) (OTCQB: RLAIF) ("Railtown" or the "Company") is issuing this news release at the request of OTC Markets Group Inc. in order to comment on recent promotional activity regarding the Company.
Further to the Company's news release dated December 19, 2023, Railtown has engaged a trio of third-party providers to render consulting and other services to the Company. Specifically, Bello Holdings Inc. provides capital markets advisory and related services to Railtown pursuant to a consulting agreement with a term of 12 months; SmallCap Communications Inc. provides investor relations, communications and marketing services to Railtown pursuant to a consulting agreement with a term of 12 months; and i2i Marketing Group, LLC provides various marketing services to Railtown, include the creation and distribution of business content intended to enhance the Company's exposure in the investing community, pursuant to an online marketing agreement that is renewable on a month-to-month basis. These entities are the only third parties engaged by Railtown to provide investor relations or related services to the Company in the last 12 months.
Although Railtown has been aware that promotional activities would be conducted on the Company's behalf since it engaged those service providers, it cannot comment with any accuracy on the effect of any promotional activities since trading in the Company's common shares is based on a wide range of factors, many of which are outside of Railtown's control. The Company can confirm, however, that it is responsible for paying the service providers in accordance with the terms of the aforementioned written agreements, and that it exercises editorial control over any content they produce.
To the Company's knowledge, none of the statements made in any promotional materials created or distributed by the three service providers in respect of the Company are materially false and/or misleading.
Railtown's common shares trade primarily on the Canadian Securities Exchange (the "CSE") and the Company is subject to the policies of the CSE as well as applicable Canadian securities laws. As a result, all insiders of the Company are required to file insider reports on SEDI (www.sedi.ca), and information regarding the purchase and sale of the Company's securities by such insiders is publicly available on that system. To Railtown's knowledge, all such reports accurate and complete. Since third-party service providers are not required to publicly disclose any transactions that they may effect in Railtown's securities, the Company is unable to comment on their trading activities.
Finally, all information regarding the issuance by Railtown of any equity securities or instruments that are convertible into equity securities at prices representing a discount to the market price of the Company's common shares is publicly available on SEDAR+ (www.sedarplus.ca) as well as the CSE's website. The Company confirms that such issuances have been completed in accordance with the policies of the CSE and applicable Canadian securities laws.
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.
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.
