- Railtown AI Technologies (RAIL) has closed a non-brokered private placement of convertible debentures for gross proceeds of $565,000
- The financing consisted of units at a price of $1,000 per unit and 3,335 common share purchase warrants
- Also, Railtown’s enterprise partner Quisitive Technology Solutions Inc. has begun marketing Velocity Insights, a Railtown AI technology, on Microsoft’s Azure Marketplace
- Quisitive Technologies Inc. is a premier, global Microsoft partner that harnesses the Microsoft platform and complementary technologies
- Railtown AI Technologies Inc. opened trading at $0.10 per share
Railtown AI Technologies (RAIL) has closed a non-brokered private placement of convertible debentures for gross proceeds of $565,000.
The financing consisted of units priced at $1,000, with each unit consisting of one unsecured convertible debenture in the principal amount of $1,000.
The debentures mature in 36 months, bears simple interest at the annual rate of 10 per cent and are convertible into common shares of Railtown at a price of $0.15 per share.
The second part of the financing is 3,335 common share purchase warrants, each of which is exercisable into one share at a price of $0.30 per share for a period of 36 months.
The company intends to use the proceeds of the financing for further customer acquisition, marketing, and general corporate purposes.
In addition, Railtown has announced that the company’s enterprise partner Quisitive Technology Solutions Inc., has begun marketing Velocity Insights, a Railtown AI technology, on Microsoft’s Azure Marketplace.
The Microsoft Azure Marketplace is an online store that offers applications and services either built on or designed to integrate with Microsoft’s Azure public cloud.
Railtown’s technology allows software engineers to monitor, diagnose, and prioritize errors efficiently with the help of artificial intelligence (AI), machine learning (ML), and natural language processing (NLP).
This reduces the time spent on finding and fixing errors without compromising product quality.
By employing the Railtown technology as Quisitive Velocity Insights, Quisitive developers will be more productive, faster, and deliver higher quality results to customers.
Quisitive Technologies Inc. is a premier, global Microsoft partner that harnesses the Microsoft platform and complementary technologies.
Railtown AI Technologies Inc. has developed a SAAS-delivered solution for software development teams that utilizes AI to drive optimizations and deliver insights at every stage of software development.
Railtown AI Technologies Inc. opened trading at $0.10 per share.