CORRECTION FROM SOURCE: Railtown Announces Options Grants

Burnaby, British Columbia--(Newsfile Corp. - February 9, 2023) - Railtown AI Technologies Inc. (CSE: RAIL) ("Railtown" or the "Company") announced earlier today the granting of 1,250,000 options; the company in fact granted 1,650,000 incentive stock options to employees and consultants. The incentive stock options have an exercise price of $0.25 per share, and are valid for a 5 year period from the date of grant.

The Company's Stock Option Plan allows for the issuance of up to 10% of issued and outstanding share capital in the form of incentive stock options. As the result of the above grants, the company has 3,675,000 options issued, representing 4.8% of the issued and outstanding share capital.

ABOUT RAILTOWN AI TECHNOLOGIES INC.

Railtown 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 converts CI/CD systems to full CI/CD/CM (continuous monitoring) systems - monitor, diagnose, and prioritize errors from the whole CI/CD environment on a single platform. Railtown's Continuous Machine Learning Application will empower developers to accelerate innovation while ensuring their applications reliability and increasing velocity.

INVESTOR CONTACT
Rebecca Kerswell, Vice President, Marketing and Communications
Email: rebecca@railtown.ai

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, the commencement of trading of the Company's common shares on the CSE, 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/154293