DENVER – Intermap Technologies Corporation (“Intermap” or the “Company”) today announced that it has been notified by the Toronto Stock Exchange (“TSX”) that the TSX is reviewing the Company’s eligibility for continued listing on the TSX in respect of its common shares. Intermap intends to work with the TSX to demonstrate that the Company satisfies the requirements for continued listing. The minimum market capitalization for listing on the TSX is $3 million and the minimum public float is $2 million. If the Company cannot demonstrate that it meets all TSX requirements set out in Part VII of the TSX Company Manual on or before June 3, 2019, the Company’s common shares will be delisted 30 days from such date.
During the remedial review period, the Company will consider listing its common shares on another Canadian stock exchange as an alternative. There can be no assurance that the Company will be able to achieve compliance with the TSX’s continued listing requirements within the required timeframe or that the Company will be successful in securing a listing on another Canadian stock exchange.
About Intermap Technologies
Headquartered in Denver, Colorado, Intermap (TSX: IMP) (ITMSF: BB) is an industry leader in geospatial intelligence solutions. These geospatial solutions can be used in a wide range of applications including, but not limited to, location-based information, risk assessment, geographic information systems, engineering, utilities, global positioning systems maps, oil and gas, renewable energy, hydrology, environmental planning, land management, wireless communications, transportation, advertising, and 3D visualization. Intermap has three core sources of revenue: multi-sensor data acquisition and collection, enriched data products, and commercial applications, software and solutions. The Company is a world leader in data fusion, analytics, and orthorectification, and has decades of experience aggregating, enriching, and managing 3-D data derived from a number of different sensor technologies and data sources. For more information please visit www.intermap.com.
Intermap Reader Advisory
Certain information provided in this news release, including statements in relation to the Company’s remedial listing review by the TSX and consideration of an alternative stock exchange constitutes forward-looking statements. The words "anticipate", "expect", "project", "estimate", "forecast", “will be”, “will consider”, “intends” 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. Intermap’s forward-looking statements are subject to risks and uncertainties pertaining to, among other things, cash available to fund operations, availability of capital, revenue fluctuations, nature of government contracts, economic conditions, loss of key customers, retention and availability of executive talent, competing technologies, common share price volatility, loss of proprietary information, software functionality, internet and system infrastructure functionality, information technology security, breakdown of strategic alliances, and international and political considerations, as well as those risks and uncertainties discussed Intermap’s 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.
For more information, please contact:
Executive Vice President and CFO
+1 (303) 708-0955