DENVER: Intermap Technologies Corp. today announced that its Intermap Federal Services, Inc. subsidiary has received an additional USD $4.27 million contract to provide 3D digital elevation data and orthorectified radar imagery for an existing international project. Data will be used for topographic map production, 3D visualization, and natural resources management.
Using the Company's proprietary Interferometric Synthetic Aperture Radar (IFSAR) technology, Intermap will begin collecting and delivering radar mapping services for the client in 2008 and will complete the project in early 2009.
“The additional area of interest added to our May contract of $8.1M continues to reinforce the value and usability our digital elevation models provide for this client,” commented Brian Bullock, president & CEO for Intermap Technologies. “The increased efficiencies and capacity in our data collection platforms allow the Company to collect record amounts of data under our NEXTMap® program, while providing custom contract services to clients around the world.”
About Intermap Technologies:
Intermap (TSX: IMP.TO, AIM: IMAP.L) is a preeminent digital mapping company creating uniform high-resolution 3D digital models of the earth's surface. The Company is proactively remapping entire countries and building 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, personal navigation device, insurance risk assessment, oil and gas, hydrology, environmental planning, wireless communications, transportation, aviation, and 3D visualization markets.
Headquartered in Denver, Colorado, Intermap employs approximately 800 people worldwide, with additional offices in Calgary, Detroit, Jakarta, London, Munich, Ottawa, Prague, and Washington D.C. For more information, visit www.Intermap.com.
NEXTMap® is a registered trademark of Intermap Technologies Corporation
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Richard Mohr, Senior Vice President & Chief Financial Officer
Canada — Financial
Corbet Pala, Investor Relations
E-vestor Communications Inc.
United States — Financial
Budd Zuckerman, Investor Relations
Genesis Select Corporation
United Kingdom — AIM, Nominated Advisor
Canaccord Adams Limited
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Intermap Reader Advisory
Certain information provided in this news release constitutes forward-looking statements. The words "anticipate", "expect", "project", "estimate", "forecast" and similar expressions are intended to identify such forward-looking statements. Although Intermap believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a variety of known and unknown risks and uncertainties. You can find a discussion of such risks and uncertainties in our Annual Information Form and other securities filings. While the Company makes these forward-looking statements in good faith, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. 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 Intermap or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. 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 forward-looking statements made herein, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law.