Intermap Technologies Reports 2009 Fourth Quarter and Year-End Financial Results

Posted by Rich Mohr

Feb 25, 2010 8:00:00 AM

NEXTMap Europe completion drives increased revenues in region 

NEXTMap USA set to be complete in mid-2010

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Topics: Financial Results

Intermap Technologies 2009 Q4 and Year-End Conference Call Notice

Posted by Rich Mohr

Feb 22, 2010 8:00:00 AM

DENVER — Intermap Technologies Corporation, (TSX: IMP.TO) issued notice today that it will release its 2009 fourth quarter and year-end financial results after the close of trading on Thursday, February 25, 2010.

A conference call to review the results will take place the same day at 4:30 pm ET (2:30 pm MT). Management will speak on behalf of the Company, providing an update on the Intermap's progress on its NEXTMap business model. A question-and-answer period will follow the review of the financial results. 

To participate in the call, please dial +1-416-340-8018 or +1-866-223-7781 approximately 10 minutes prior to the conference call. A recording of the conference call will be available through March 10, 2010. Please dial +1-416-695-5800 or +1-800-408-3053 and provide the password 7310672 to listen to the rebroadcast.

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Topics: Financial Results

Intermap and Waze Partner for Road Product Updates Featuring European User-Generated Content

Posted by Rich Mohr

Feb 17, 2010 8:30:00 AM

Exchange of data provides Intermap with augmented update mechanism and Waze with a detailed road network that will increase value and expedite local growth for its community of drivers

DENVER & Munich, Germany - Intermap Technologies, the foremost worldwide 3D digital mapping and geospatial solutions company, today announced a collaboration with Waze, the first worldwide provider of community-generated live maps and real-time traffic information. Waze will provide Intermap with live data, consisting of anonymous GPS points — latitude, longitude, and height measurements. 

Through ongoing analysis, Intermap can supplement its existing road change detection process, noting when new roads appear or existing roads change. Combining the Waze data with satellite imagery analysis, the Company will enhance its change detection capability and be enabled to pinpoint where additional technologies can be utilized to capture new and altered roads.

In return, the waze community will gain access to the Intermap road data collected throughout Western Europe via its proprietary airborne radar technology, allowing it to provide its local communities with accurate base maps that can quickly be transformed to become fully navigable. The Intermap road dataset is a comprehensive set of road maps covering all roads, however small, accurately referenced to the earth's surface. Waze can utilize the Intermap road dataset as a basis to overlay their live maps and real-time services.

"Intermap's 3D road geometry represents a highly accurate and uniform map database that will cover every road in Western Europe and the United States," said Eric DesRoche, Intermap's senior vice president of automotive. "We take great pride in having every road covered and want to ensure our maps remain up-to-date by capturing changes that inevitably take place. The combination of GPS reports from vehicles and aerial imagery will allow us to do so. Given that our maps will form the base for many ADAS safety and energy management applications, we have taken the appropriate steps to deliver a product to the industry that features a sound update strategy."
"Intermap´s comprehensive and accurate road data helps Waze complete portions of our maps in areas where our users don't travel so frequently," said Uri Levine, co-founder and president of Waze. "This partnership is a great example of two companies creating a win-win strategy that benefits end-customers who rely on accurate road data for their daily driving. In terms of Waze's overall strategy, this exchanging of map data with companies like Intermap is very much in line with the co-operative and community-based philosophy we support, and which we are replicating, worldwide."

For more information about Intermap automotive, visit  or visit to learn more about Waze.

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Topics: New Partner

Intermap Technologies Appoints Chief Financial Officer

Posted by Rich Mohr

Feb 10, 2010 10:00:00 AM

DENVER — Intermap Technologies today announced the appointment of Brian Musfeldt, CPA, to the position of vice president and chief financial officer, effective March 1, 2010. Mr. Musfeldt replaces outgoing senior vice president and CFO, Richard Mohr, who remains with the Company until February 28, 2010 to ensure a seamless transition and the completion of the 2009 year-end financial reporting. 

Since joining the Company in 2006, Mr. Musfeldt spent the past four years working alongside Intermap's CFO as the Company's corporate controller, helping to build and lead an exceptional accounting and finance team. Mr. Musfeldt has been responsible for preparing all public reporting requirements for the Toronto Stock Exchange, financial reporting, budget and treasury requirements, international consolidation, internal and external audits, implementation and compliance of Multilateral Instrument 52-109, tax filings, and the day-to-day leadership of the Company's international accounting and finance organization. 

"Brian Musfeldt's financial reporting skills and experience have been a valuable asset to Intermap," stated Brian Bullock, Intermap's president and CEO. "Brian's intimate knowledge of the Company and its finances acquired over the past four years make Brian a logical choice for the CFO role and will ensure continued excellence in financial operations and financial reporting as we move forward."

In this role, Mr. Musfeldt will assume responsibility for financial and treasury operations — including investor relations activities and will appoint a new controller to take over his current responsibilities. 

Prior to Intermap, Mr. Musfeldt was the vice president and corporate controller at Wire One Communications. Prior to Wire One, he developed an extensive background in mergers and acquisitions and internal audit serving in a due diligence & internal audit role with a private firm, Gores Technology Group. Brian started his career at, at KPMG LLP/Arthur Andersen LLP working as an audit manager in the high-tech and emerging markets practice.

Brian received his Bachelor of Science in Business Administration — Accounting from the University of Colorado at Boulder and holds a Certified Public Accountant designation.

About Intermap Technologies

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Topics: Board of Directors

Intermap Technologies Brings the Terrain of the Whistler-Blackcomb Ski Resort to iPhone Owners with AccuTerra App

Posted by Rich Mohr

Feb 10, 2010 8:00:00 AM

Whistler-Blackcomb available in 2D and 3D; plus 75 additional U.S. ski resort maps available on AccuTerra by Intermap

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Topics: New Product Introduction

Intermap Technologies Announces Resignation of Chief Financial Officer

Posted by Rich Mohr

Feb 2, 2010 9:00:00 AM

DENVER: Intermap Technologies Corporation today announced that Richard Mohr has resigned from the positions of chief financial officer and senior vice president to pursue other opportunities. "Rich has been a valued member of the Intermap management team, and we would like to thank him for his service and wish him well in his future endeavors," commented Brian Bullock, Intermap's president and CEO. 

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Topics: Board of Directors

Intermap Technologies Announces Annual General Meeting

Posted by Rich Mohr

Feb 2, 2010 9:00:00 AM

DENVER: Intermap Technologies Corporation ("Intermap" or the "Company") today announced that its Directors have approved the date of its 2010 annual general and special meeting of the shareholders on May 11, 2010. Meeting materials will be sent in accordance to Canadian securities policies with the audited year-end financial statements and accompanying annual report.

Among other matters, shareholders at the meeting will be asked to ratify a Shareholder Rights Plan (the "Rights Plan") adopted by the Directors carrying identical terms to the one that has been in place over the past several years. 

The Company has not adopted the Rights Plan in response to any specific proposal to acquire shares of the Company. The Company is merely required to reapprove its Plan every three years. The Rights Plan is similar to current, standard plans adopted by other Canadian companies and approved by their shareholders.

The Rights Plan has been re-adopted by the Board of Directors to ensure the fair treatment of shareholders in connection with any take-over offer for the Company, and to provide the Board of Directors and shareholders with additional time to fully consider any unsolicited take-over bid. The Rights Plan will also provide the Board of Directors more time to pursue, if appropriate, other alternatives to maximize shareholder value.

The Rights Plan has been conditionally accepted for filling by the Toronto Stock Exchange, is effective as of February 2, 2010 and must be approved by shareholders at the 2010 annual and special meeting of the shareholders of the Company. If approved by shareholders, the Rights Plan will have an initial term of three years. If not approved, the Rights will be redeemed in accordance with the terms of the Rights Plan.

The Rights Plan is not intended to prevent take-over bids. Under the Rights Plan, those bids that meet certain requirements intended to protect the interests of all shareholders are deemed to be "Permitted Bids."  Permitted Bids must be made by way of a take-over bid circular prepared in compliance with applicable securities laws and remain open for sixty days.

Under the Rights Plan, Rights have been issued and attached to all common shares of the Company issued and outstanding as of the close of business on February 2, 2010. Rights will be issued upon any future issuance of any common shares of the Company that occurs prior to the Separation Time (as defined in the Rights Plan).

In the event a take-over bid does not meet the Permitted Bid requirements of the Rights Plan, the Rights will entitle shareholders, other than any shareholder or shareholders making the take-over bid, to purchase additional common shares in the Company at a substantial discount to the market value at the time.

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®, 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, Ottawa, Paris, Prague, and Washington D.C. For more information, visit, or  

NEXTMap® and AccuTerra® are registered trademarks of Intermap Technologies Corporation. 

For more information, please contact:

Canada — Financial 
Corbet Pala, Investor Relations 
E-vestor Communications Inc. 
+1 (416) 657-2400 

United States — Financial 
Budd Zuckerman, Investor Relations
Genesis Select Corporation
+1 (303) 415-0200

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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 forwardlooking 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.

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Topics: Conferences

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