Intermap Technologies Completes C$10 Million Financing

Posted by Rich Mohr

Apr 27, 2009 8:00:00 AM

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.

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Topics: Financial Results

Outdoor Maps for United States Now Available on SD Card from Magellan and Intermap Technologies

Posted by Rich Mohr

Apr 22, 2009 10:00:00 AM

Single SD card contains nationwide content with more layers and points-of-interest than any other dataset on the market

Wednesday, April 22, 2009

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Topics: New Product Introduction

Intermap Technologies enters into a bought deal agreement for Cdn $10,000,000

Posted by Rich Mohr

Apr 7, 2009 9:00:00 AM

Calgary - Intermap Technologies Corporation (the "Company") is pleased to announce that it has entered into an agreement to sell, on a bought deal basis, 5,000,000 units (the "Units") at a price of C$2.00 per Unit to Canaccord Capital Corporation (“Canaccord”), for gross proceeds to the Company of C$10 million. Each Unit will consist 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. 

In addition, Canaccord has been granted an option (the "Over-allotment Option") to sell that number of additional Units as 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 April 27, 2009 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including stock exchange approvals. 

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Topics: Financial Results

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