Calgary, Alberta, May 23, 2006--Intermap Technologies Corp. (TSX: IMP; AIM: IMAP) today announced that the Company plans to proceed with a secondary listing of its common shares on the AIM market of the London Stock Exchange plc under the Symbol .IMAP.. Canaccord Adams Limited is acting as the nominated adviser and broker to the Company. AIM is Europe's leading market for growing companies and will complement the Company's existing listing in Toronto while providing European investors with greater options to invest in the Company. By listing on AIM, the Company can increase its profile and accommodate its institutional shareholder base in Europe.
"The AIM listing is a logical step for the Company as we continue to expand our European data collection efforts under our NEXTMap service program," stated Richard Mohr, senior vice president and CFO of Intermap. ".We anticipate our dual listing on the Toronto Stock Exchange (TSX) and AIM will benefit our shareholders by enhancing liquidity and increasing the Company's profile with the international investment community."
The Company's shares will continue to be quoted on the TSX Senior Exchange in Toronto under the symbol .IMP.. As of March 31, 2006, the Company had 36,451,387 common shares outstanding.
The announcement is not and should not be construed as an offering of securities.
About Intermap Technologies
Intermap enables customers to facilitate better decision-making and create applications for numerous commercial, governmental, military, and consumer products through the purchase of high quality and affordable elevation datasets. The company is proactively remapping entire countries and building unprecedented national databases, called NEXTMap, consisting of highly accurate digital topographic maps that include elevation data.
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/wireless network planning, aviation, simulation, and 3D visualization. Internet applications include virtual tours, topographic maps and computer games. Datasets are also used to add interactive intelligence to airborne and satellite imagery.
Headquartered in Denver, Colorado, Intermap employs more than 250 people worldwide, with offices in Calgary, Ottawa, Munich, and Jakarta. Intermap trades on the TSX under the symbol IMP. For more information, visit www.intermap.com.
Contacts:
Canada--Financial
Corbet Pala, Investor Relations
E-vestor Communications Inc.
cpala@evestor.com
(416) 657-2400
United States--Financial
Budd Zuckerman, Investor Relations
Genesis Select Corporation
bzuckerman@genesisselect.com
(303) 415-0200