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Research in Motion co-founders Mike Lazaridis and Doug Fregin are leading the private placement in the Burnaby, B.C.-based firm, which consists of shares priced at 30 cents and warrants priced at 45 cents each, respectively. (The Logic)
Talking point: Railtown sells tools that developers use to manage AI agents and connect large language models to clients’ data. It also runs a network of firms that build AI applications for sectors like health care and manufacturing. Formerly a capital corporation, the firm rebranded to focus on AI in August 2019. The company had no revenue in its fiscal year ending through September, and lost $5.39 million. Post-BlackBerry, Lazaridis and Fregin set up Quantum Valley Investments, which backed three startups working in the disruptive technology. Railtown’s stock closed Wednesday trading up 11.9 per cent.
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