Intermap Technologies Completes C$10 Million Financing

News Releases

27 Apr, 2009

Calgary, Alberta (April 27, 2009): Intermap Technologies Corporation (the "Company") today announced the closing of the offering by short form prospectus as previously announced on April 7, 2009. The Company sold 5,000,000 units ("Units") at a price of C$2.00 per Unit through Canaccord Capital Corporation (“Canaccord”) pursuant to an underwriting agreement dated April 13, 2009. Each Unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant will be exercisable at a price of C$3.00 for a period of one year from the closing date into an additional common share. 

The offering resulted in total gross proceeds to Intermap of C$10,000,000. The net proceeds from the financing will be used for general corporate purposes. The Company granted to Canaccord an over-allotment option (the "Over-Allotment Option"), exercisable for a period of 30 days following the closing of the offering, to purchase up to that number of Units equal to 15% of the number of Units issued pursuant to the offering. In the event that the Over-Allotment Option is exercised in full, the total gross proceeds to Intermap will increase to approximately C$11,500,000.

Application has been made for all common shares issued or issuable pursuant to the offering to be admitted to trading on AIM and listed on the TSX. It is expected that dealings on AIM will begin on April 28, 2009. Subsequent to the April 27, 2009 closing, Intermap has 51,188,713 common shares in issue, none of which are held in treasury.

Brian Bullock, Intermap's president and CEO stated, “We are very pleased with the continuing support we have received from the investment communities in Canada, the United States, and Europe. The funds raised will allow us to increase our working capital and strengthen the Company's balance sheet to better position ourselves to take advantage of opportunities that may be presented. This positioning is especially important in light of current and forecasted macro-economic conditions. The wide range of solutions that can be created through GIS applications by having access to a high-quality and uniform set of 3D data is continuing to expand. Our investors realize Intermap is setting the stage for 3D data that can supply the expanding needs of various markets worldwide.” 

The Common Shares have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States, or to a U.S. person, absent registration, or an applicable exemption therefrom.  

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 has proactively remapped entire countries and is building uniform national datasets, 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, consumer electronics, insurance risk assessment, oil and gas, renewable energy, hydrology, environmental planning, wireless communications, transportation, aviation, and 3D visualization markets.

Headquartered in Denver, Colorado, Intermap employs more than 850 people worldwide, with additional offices in Calgary, Detroit, Jakarta, London, Munich, Ottawa, Paris, Prague, and Washington D.C. For more information, visit or

NEXTMap® is a registered trademark of Intermap Technologies Corporation.

For more information, please contact: 

Intermap Technologies

Richard Mohr, Senior Vice President & Chief Financial Officer 
(303) 708-0955

Canada — Financial 
Corbet Pala, Investor Relations 
E-vestor Communications Inc. 
(416) 657-2400 

United States — Financial 
Budd Zuckerman, Investor Relations
Genesis Select Corporation
(303) 415-0200

United Kingdom — AIM, Nominated Advisor 
Canaccord Adams Limited
Andrew Chubb 
+44 (0) 207 050 6500