Intermap Announces Refinancing and Appointment of New Directors

Posted by Rich Mohr

Sep 19, 2016 9:05:38 AM

DENVER, September 19, 2016 - Intermap (TSX: IMP), (ITMSF:BB), a leading provider of location-based solutions, today announced that it has entered into a refinancing with Vertex One Asset Management Inc. (“Vertex”), its existing lender, whereby Vertex will invest an additional $2.0 million in the Company through an expansion and consolidation of its promissory notes dated March 2, 2016 and April 12, 2016 (the “Notes”), into a new promissory note (“Consolidated Note”), that  bears interest at 15% per annum, and is due and payable on September 15, 2017 (the “Maturity Date”). Additionally, Andrew P. Hines and Michael R. Zapata have been appointed to the Company’s Board of Directors, following their referral to the board by its Nominating and Governance Committee.

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Topics: Financial Results, Board of Directors, Refinancing

Intermap’s $2.6 Million Mapping Services Contract Expanded to $4.2 Million

Posted by Rich Mohr

Sep 8, 2016 9:59:36 AM

DENVER, September 8, 2016 - Intermap (TSX: IMP), (ITMSF:BB), a leading provider of location-based solutions, today announced that the Company has received a US$1.6 million expansion to a US$2.6 million airborne radar mapping services solution contract previously announced on May 13, 2016.

Intermap is using its proprietary Interferometric Synthetic Aperture Radar (IFSAR) technology to collect orthorectified radar imagery and high resolution elevation data to enhance the customer’s existing geospatial map database. This new dataset will be used for improved disaster planning, resource management, security interests, and infrastructure planning. The final deliveries of the dataset are expected to be substantially complete by the end of the first quarter 2017.
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Topics: Financial Results, Board of Directors

Intermap Reports Board Changes

Posted by Rich Mohr

Aug 25, 2016 10:48:17 AM

DENVER, August 25, 2016 - (TSX: IMP) – Intermap Technologies Corporation ("Intermap" or the "Company"), a provider of location-based solutions, reports that effective August 24, 2016, Cary Ludtke will resign from his director role and instead serve as a strategic business advisor to the Company. “I want to thank Cary for the contribution he is making, and will continue to make expanding our commercial relationships. The Company will announce further board changes shortly”, said Patrick Blott, Chairman of Intermap.

About Intermap Technologies
Headquartered in Denver, Colorado, Intermap (www.intermap.com) is an industry leader in geospatial solutions on demand with its secure, cloud-based Orion Platform™. Through its powerful suite of 3DBI applications and proprietary development of contiguous databases that fuse volumes of geospatial data into a single source, the Orion Platform is able to provide location- based solutions for customers in diverse markets around the world. For more information, please visit www.intermap.com.

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Topics: Financial Results, Board of Directors

Intermap Technologies Reports 2016 Second Quarter Financial Results

Posted by Rich Mohr

Aug 12, 2016 10:02:07 AM

DENVER – August 12, 2016 (TSX: IMP) – Intermap Technologies Corporation (“Intermap” or the “Company”) today reported financial results for the second quarter ended June 30, 2016. A conference call will be held today, August 12th, at 11:00 a.m. Eastern Time to discuss the results.

All amounts in this news release are in United States dollars unless otherwise noted.

Intermap reported total revenue of $0.9 million for the second quarter of 2016, a 20% increase from $0.7 million in the second quarter of 2015. The majority of the year-over-year increase in revenue was from increased data licensing and InsitePro software sales. Net operating loss for the second quarter of 2016 was $3.5 million, compared to a net operating loss of $4.4 million for the second quarter of 2015. Second quarter adjusted EBITDA, a non IFRS financial measure, was a loss of $3.3 million, an improvement from an adjusted EBITDA loss of $3.7 million for the same period in 2015. Adjusted EBITDA excludes share-based compensation, change in value of derivative instruments, and gain or loss on foreign currency translation.

“During the quarter we supported efforts to obtain the project financing associated with a $175 million spatial data infrastructure (SDI) contract that we announced in February of this year. Although Intermap is not responsible for the project financing on this contract, we provide support to our client in connection with their negotiation of final financing terms,” said Todd Oseth, President & CEO of Intermap. “If and when project financing is completed, we will issue a detailed press release. We believe this award can be a catalyst to close other large Orion Platform government implementations in the future, as well as promote Intermap’s location based Platform-as-a-Service (PaaS) and Software-as-a-Service (SaaS) product offerings for the enterprise sector.”

Mr. Oseth added, “During the second quarter we continued to see expanded interest in our InsitePro™ user base in the US. Our risk based customers have expressed significant interest in InsitePro’s capabilities and the fact that we can customize the application for proprietary risk scoring to suit their individual needs. In addition to the expansion of our software business, we also received repeat business for further data acquisition in North America. The expanded contract was for $2.6 million and further task orders to expand this project are expected. The flying portion of this contract is now complete, ahead of schedule and under budget. Our data acquisition results surpass our published specifications. We continue to create a high quality dataset for this customer.”

Financial Review
Consolidated revenue for the second quarter of 2016 totaled $0.9 million and included (i) $0.1 million in mapping services, (ii) $0.1 million in professional services, (iii) $0.4 million in data licensing, and (iv) $0.3 million in software licensing. For the same period in 2015, consolidated revenue totaled $0.7 million and included (i) $0.1 million in mapping services, (ii) $0.1 million in professional services, (iii) $0.3 million in data licensing, and (iv) $0.2 million in 3DBI software licensing. Contract backlog at the end of the quarter totaled $3.5 million.

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Topics: Financial Results, Conferences

Intermap Technologies 2016 Q2 Conference Call

Posted by Rich Mohr

Aug 4, 2016 11:53:07 AM

Denver, August 4, 2016 – Intermap Technologies Corporation (“Intermap” or the “Company”), (TSX: IMP), (OTCBB: ITMSF), a leading provider of geospatial solutions, today announced it will release its 2016 second quarter financial results before market open on Friday August 12, 2016.

A conference call to review the results will take place Friday August 12, at 11:00 am ET. To participate in the call, please dial +1-647-427-7450 approximately 10 minutes prior to the conference call and provide conference ID 61308127. A recording of the conference call will be available through August 26, 2016. Please dial +1-416-849-0833 and provide pass code 61308127 to listen to the rebroadcast. The call will also be available through Intermap’s website at http://www.intermap.com/investors for replay.

About Intermap Technologies
Headquartered in Denver, Colorado, Intermap (www.intermap.com) is an industry leader in geospatial solutions on demand with its secure, cloud-based Orion Platform™. Through its powerful suite of 3DBI applications and proprietary development of contiguous databases that fuse volumes of geospatial data into a single source, the Orion Platform is able to provide location- based solutions for customers in diverse markets around the world. For more information, please visit www.intermap.com.

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Topics: Financial Results, Conferences, technologies, geospatial solutions

Intermap Technologies Reports 2016 First Quarter Financial Results

Posted by Rich Mohr

May 12, 2016 3:29:38 PM

DENVER – May 12, 2016 (TSX: IMP) – Intermap Technologies Corporation (“Intermap” or the “Company”) today reported financial results for the first quarter ended March 31, 2016. A conference call will be held tomorrow, May 13th, at 11:00 a.m. Eastern Time to discuss the results.

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Topics: Financial Results

Intermap Technologies 2016 Q1 Conference Call

Posted by Rich Mohr

May 6, 2016 9:15:01 AM

Denver, May 6, 2016 – Intermap Technologies Corporation (“Intermap” or the “Company”), (TSX: IMP), (ITMSF: BB), a leading provider of geospatial solutions, today announced it will release its 2016 first quarter financial results after market close on Thursday May 12, 2016.

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Topics: Financial Results

Intermap Technologies to Repeat 2015 Q4 Conference Call

Posted by Rich Mohr

Mar 30, 2016 11:29:19 AM

Denver, March 30, 2016 – Intermap Technologies Corporation (“Intermap” or the “Company”), (TSX: IMP), (ITMSF: BB), a leading provider of geospatial solutions, today announced it will hold a live repeat of its 2015 fourth quarter and year-end shareholder conference call on Thursday, March 31, 2016.

Due to a technical issue listeners were unable to access the questions and answer portion of today’s call. Management invites shareholders to join a repeat of the Q4 call tomorrow in order to take their questions.

The conference call will take place March 31, at 11:00 am ET. To participate in the call, please dial +1-647-427-7450 or 1-888-231-8191 approximately 15 minutes prior to the conference call and provide conference ID 82784875. A recording of the conference call will be available through April 15, 2016. Please dial +1-416-849-0833 and provide pass code 82784875 to listen to the rebroadcast. The call will also be available on Intermap’s website at http://www.intermap.com/investors for replay.

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Topics: Financial Results, Investors

Intermap Technologies Reports 2015 Fourth Quarter and Year-End Financial Results

Posted by Rich Mohr

Mar 29, 2016 3:45:31 PM

DENVER – March 29, 2016 (TSX: IMP) – Intermap Technologies Corporation (“Intermap” or the “Company”) today reported financial results for the fourth quarter and year ended December 31, 2015. A conference call will be held tomorrow, March 30th, at 11:00 a.m. Eastern Time to discuss the results.

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Topics: Financial Results, Investors

Intermap Technologies 2015 Q4 Conference Call

Posted by Rich Mohr

Mar 15, 2016 3:58:05 PM

Denver, March 15, 2016 – Intermap Technologies Corporation (“Intermap” or the “Company”), (TSX: IMP), (ITMSF: BB), a leading provider of geospatial solutions, today announced it will release its 2015 fourth quarter and year-end financial results after market close on Tuesday, March 29, 2016.

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Topics: Financial Results, Investors

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