DENVER — Intermap Technologies today announced the appointment of Brian Musfeldt, CPA, to the position of vice president and chief financial officer, effective March 1, 2010. Mr. Musfeldt replaces outgoing senior vice president and CFO, Richard Mohr, who remains with the Company until February 28, 2010 to ensure a seamless transition and the completion of the 2009 year-end financial reporting.
Since joining the Company in 2006, Mr. Musfeldt spent the past four years working alongside Intermap's CFO as the Company's corporate controller, helping to build and lead an exceptional accounting and finance team. Mr. Musfeldt has been responsible for preparing all public reporting requirements for the Toronto Stock Exchange, financial reporting, budget and treasury requirements, international consolidation, internal and external audits, implementation and compliance of Multilateral Instrument 52-109, tax filings, and the day-to-day leadership of the Company's international accounting and finance organization.
"Brian Musfeldt's financial reporting skills and experience have been a valuable asset to Intermap," stated Brian Bullock, Intermap's president and CEO. "Brian's intimate knowledge of the Company and its finances acquired over the past four years make Brian a logical choice for the CFO role and will ensure continued excellence in financial operations and financial reporting as we move forward."
In this role, Mr. Musfeldt will assume responsibility for financial and treasury operations — including investor relations activities and will appoint a new controller to take over his current responsibilities.
Prior to Intermap, Mr. Musfeldt was the vice president and corporate controller at Wire One Communications. Prior to Wire One, he developed an extensive background in mergers and acquisitions and internal audit serving in a due diligence & internal audit role with a private firm, Gores Technology Group. Brian started his career at, at KPMG LLP/Arthur Andersen LLP working as an audit manager in the high-tech and emerging markets practice.
Brian received his Bachelor of Science in Business Administration — Accounting from the University of Colorado at Boulder and holds a Certified Public Accountant designation.
About Intermap Technologies
Intermap (TSX: IMP.TO) is a preeminent digital mapping and geospatial solutions provider that has set the industry standard for creating uniform high-resolution 3D digital models of the earth's surface. The Company has proactively remapped entire countries and built uniform national databases, called NEXTMap®, consisting of affordably priced elevation data and geometric images of unprecedented accuracy. Demand for NEXTMap data is growing as new commercial applications emerge within the GIS, engineering, automotive, GPS maps, insurance risk assessment, oil and gas, hydrology, renewable energy, environmental planning, wireless communications, transportation, aviation, and 3D visualization markets.
Headquartered in Denver, Colorado, Intermap has offices in Australia, Calgary, Detroit, Jakarta, London, Munich, Ottawa, Prague, and Washington D.C. For more information, visit www.Intermap.com,www.mobile.AccuTerra.com, or www.AccuTerra.com.
NEXTMap® and AccuTerra® are registered trademarks of Intermap Technologies Corporation.
Contacts:
Intermap Technologies
Brian Bullock, President & CEO
+1 (303) 708-0955
Kevin Thomas, Vice President, Marketing
kthomas@intermap.com
+1 (303) 7008-0955
Canada — Financial
Corbet Pala, Investor Relations
E-vestor Communications Inc.
cpala@evestor.com
+1 (416) 657-2400
United States — Financial
Budd Zuckerman, Investor Relations
Genesis Select Corporation
bzuckerman@genesisselect.com
+1 (303) 415-0200
Intermap Reader Advisory
This news release contains certain forward-looking statements, which include certain assumptions with respect to the future business and operations of the Company. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. All such forward looking statements involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that the Company will derive therefrom. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.