Announced financings: Jan. 31

February 1, 2024 01:55 PM PST

Here's your roundup of yesterday's announced financings, courtesy of PrivatePlacements.com, the only platform that posts every Canadian financing, every day.

1. Railtown AI Technologies Inc. (CSE: RAIL)

Gross Proceeds: $2.5 million
Sector: AI
Units issued: 16.67 million
Type: Special units
Price: $0.15
Warrants: Full; $0.30; Two years
Agents: Non-brokered
Use of Proceeds: User acquisition

Company breakdown:

Microsoft partner with a cloud-based AI platform for software developers and other teams that practice agile team management
Filed another patent in December for a AI-driven ticket generation with the Railtown platform acting as a virtual developer
Also in December the company announced that its AI engine had achieved "Application General Intelligence" which is says "represents holistic understanding of the specific software applications connected to the Railtown AI platform"

2. Hillcrest Energy Technologies Ltd (CSE: HEAT)

Gross Proceeds: $2 million
Sector: Energy tech
Units issued: 8 million
Type: Special units
Price: $0.25
Warrants: Full; $0.30; Three years
Agents: Non-brokered
Use of Proceeds: Tech development

Company breakdown:

Clean tech company focused on power conversion and digital control systems for next-gen powertrains and renewable energy systems
CEO Don Currie recently said: "After achieving significant breakthroughs in technology launches and securing multiple commercial engagements in 2023, our primary focuses in 2024 are to further amplify our customer engagements and secure commercial commitments"
Shares have declined steeply since about mid-last year