7 Oct, 2005 Denver, Colorado (October 7, 2005): Intermap Technologies Corp. (IMP - TSX) reports that as a result of delays in receiving flight permits required to fly in airspace over a region Intermap had previously been contracted to map, the project cannot be flown in the timeframe required by the non-US based customer, and thus the contract has been officially cancelled at this time.
In the spring of 2006, Intermap expects to obtain the necessary flight permits and begin mapping the region. The customer has expressed interest in purchasing the map data for this area and the Company expects to renew this cancelled contract.
The previously announced contract by its wholly-owned subsidiary Intermap Technologies GmbH (August 9, 2005) was for the amount of EUR 1,033,418 (approximately US$1.3 million). The contract falls under Intermap's contract services business and is not related to Intermap's NEXTMap USA or other NEXTMap projects.
Intermap is digitally remapping entire countries, building unprecedented national databases, called NEXTMap, of highly accurate digital topographic maps (including elevation). Customers purchase Intermap's high-quality, low-cost data to facilitate better decision-making for numerous commercial, governmental, military and consumer applications.
Demand for NEXTMap data is growing as new commercial applications are emerging, including geographical information systems (GIS), engineering planning, transportation, automotive, navigation, flood, irrigation, environmental management and planning, telecommunications network planning, aviation, simulation and 3D visualization. Internet applications include virtual tours, topographic maps and computer games. The products are also used to add interactive intelligence to airborne and satellite images.
Headquartered in Denver, Colorado, Intermap employs more than 250 people worldwide, with offices in Calgary, Ottawa, Munich and Jakarta. Intermap is publicly traded on the TSX Toronto Stock Exchange under the symbol IMP. For more information, visit www.intermap.com.
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