CALGARY (Marketwire) - Intermap Technologies Corporation (TSX:IMP) (AIM:IMAP) (the "Company") today announced the closing of its previously announced short form prospectus offering. The Company sold 8,125,000 common shares ("Common Shares") at a price of C$0.80 per Common Share through Canaccord Genuity Corp. pursuant to an underwriting agreement dated June 21, 2010. The offering resulted in total gross proceeds to Intermap of C$6,500,000. The net proceeds from the financing will be used for general corporate purposes.
Subsequent to the July 6, 2010 closing, Intermap has 60,659,740 Common Shares outstanding.
About Intermap Technologies
Intermap is a preeminent digital mapping and geospatial solutions provider that has set the industry standard for 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 Australia, Calgary, Detroit, Jakarta, London, Munich, Prague, and Washington D.C.
For more information, visit www.Intermap.com. NEXTMap(R) is a registered trademark of Intermap Technologies Corporation.
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.