Intermap Technologies enters into a bought deal agreement for Cdn $6,500,000

News Releases

15 Jun, 2010

CALGARY, June 15 /CNW/ - Intermap Technologies Corporation (the "Company") announces that it has entered into an agreement to sell, on a bought deal basis, 8,125,000 common shares (the "Common Shares") at a price of C$0.80 per Common Share to Canaccord Genuity Corp. ("Canaccord Genuity"), for gross proceeds to the Company of C$6.5 million.

In addition, Canaccord Genuity has been granted an option (the "Over-allotment Option") to sell up to 1,218,750 additional Common Shares, which is equal to 15% of the size of the offering, for market stabilization and over-allotment purposes. The Over-allotment Option may be exercised at any time, in whole or in part, until that date which is 30 days following the closing date. The offering is scheduled to close on or about July 6, 2010 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including stock exchange approvals.

In addition to an underwriting fee, Canaccord Genuity will be issued at closing warrants to acquire up to 500,000 Common Shares at a price of $0.80 per share for a period of one year from the date of issue.

Proceeds of the offering will be used by the Company for sales and marketing and general corporate purposes.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

About Intermap Technologies
Intermap (TSX: IMP.TO) 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 built uniform national databases, called NEXTMap(R), 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, GPS maps, insurance risk assessment, oil and gas, hydrology, renewable energy, environmental planning, wireless communications, transportation, aviation, and 3D visualization markets.

Headquartered in Denver, Colorado, Intermap has offices in Calgary, Detroit, Jakarta, London, Munich, Paris, Prague, and Washington D.C. For more information, or

NEXTMap(R) and AccuTerra(R) are registered trademarks of Intermap Technologies Corporation. Other companies and products mentioned herein may be trademarks or registered trademarks of their respective trademark owners.

Intermap Reader Advisory
This news release contains certain forward-looking statements, which include certain assumptions with respect to the completion of a financing. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. All such forward looking statements involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, 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 the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, 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 included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.