Intermap Files Final Short Form Base Shelf Prospectus

Rhea-AI Summary

Intermap Technologies announced the filing of a final short form base shelf prospectus, allowing it to raise up to CDN$20,000,000 in various securities over 25 months. This strategic move provides increased access to institutional investors and lowers the cost of capital, enhancing the company's ability to pursue growth opportunities. The company plans to use the proceeds for acquisitions and organic growth initiatives. However, there are no guarantees that securities will be sold under this prospectus.

Positive

• Increased access to institutional investors.
• Ability to raise up to CDN$20,000,000 for growth initiatives.
• Positioned for flexibility in capital markets.

Negative

• No assurance that any securities will be offered or sold.

Increases access to institutional investors and lowers the cost of capital

Positions the Company to execute on growth opportunities

DENVER, May 16, 2022 /PRNewswire/ - Intermap Technologies (TSX: IMP) (OTCQX: ITMSF) ("Intermap" or the "Company"), a global leader in geospatial content development and intelligence solutions, today announced that it has obtained final receipt and filed a final short form base shelf prospectus with the securities commissions in each of the provinces of Canada, other than Quebec.

Intermap filed the prospectus to give it flexibility to take advantage of financing opportunities as they may arise and as the Company deems appropriate, subject to market conditions and other relevant factors. Global capital markets can change quickly due to macro events unrelated to Intermap's attractive business opportunities. The base shelf prospectus will ensure that Intermap is front-footed in the capital markets. This filing is a natural evolution as the Company rapidly matures into a global and profitable organization. Intermap intends to use the net proceeds from the sale of securities to continue to pursue its growth strategy, which includes, among other things, financing for future acquisitions and to enhance profitable organic growth.

This filing allows the Company to offer and issue up to CDN$20,000,000 of common shares, preferred shares, debt securities, subscription receipts, warrants or units, or a combination thereof, during the 25-month period that the base shelf prospectus remains effective. The Corporation has undertaken not to complete an offering of securities under the base shelf prospectus unless it raises at least US$1,800,000 under the base shelf or a private placement within 90 days following the issuance the final receipt. There is no certainty that any securities will be offered or sold under the prospectus.

Patrick A. Blott, Intermap's Chairman and CEO, said, "We now have additional financial flexibility and efficient access to institutional capital and will be ready to close on capital raisings quickly when access to capital is available on reasonable terms. With this base shelf prospectus in place, Intermap is well-positioned to pursue important growth opportunities and new initiatives, as well as execute on and convert our growing pipeline."

The securities may be offered in amounts, at prices and on terms to be determined based on market conditions at the time of sale, subject to applicable regulations. The specific terms of any offerings, including the use of proceeds, will be set forth in one or more shelf prospectus supplement(s) to be filed with applicable securities regulators. There can be no assurance that any securities will be offered or sold as a result of this base shelf prospectus.

The securities 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 news 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 jurisdiction in which such offer, solicitation or sale would be unlawful.

A copy of the Base Shelf Prospectus can be found on SEDAR.

Intermap Reader Advisory

Certain information provided in this news release, including the offering of securities, access to capital markets, use of proceeds, future acquisitions, growth opportunities, constitutes forward-looking statements within the meaning of applicable securities laws. The words "may", "will", "anticipate", "expect", "project", "estimate", "forecast", "intends" and similar expressions are intended to identify such forward-looking statements. Forward-looking information in this news release includes (but is not limited to) statements regarding the timing of offering securities of the Company under the Base Shelf Prospectus, the amounts prices of such securities, and the terms and conditions upon which such offerings may be made, including the Offering Conditions, and the implications of the Offering Conditions not being satisfied. 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, all of which are available on SEDAR at www.SEDAR.com. 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.

About Intermap Technologies

Founded in 1997 and headquartered in Denver, Colorado, Intermap (TSX: IMP; OTCQX: ITMSF) is a global leader in geospatial intelligence solutions. The Company's proprietary 3D NEXTMap^® elevation datasets and value-added geospatial collection, processing, analytics, fusion and orthorectification software and solutions are utilized across a range of industries that rely on accurate, high-resolution elevation data. Intermap helps governments build authoritative geospatial datasets and provides solutions for base mapping, transportation, environmental monitoring, topographic mapping, disaster mitigation, smart city integration, public safety and defense. The Company's commercial applications include aviation and UAV flight planning, flood and wildfire insurance, environmental and renewable energy planning, telecommunications, engineering, critical infrastructure monitoring, hydrology, land management, oil and gas and transportation. For more information, please visit www.intermap.com.

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SOURCE Intermap Technologies Corporation

FAQ

What is the purpose of Intermap Technologies' base shelf prospectus filed on May 16, 2022?

The base shelf prospectus allows Intermap to raise up to CDN$20,000,000 in securities, providing flexibility to capitalize on financing opportunities.

How long will Intermap Technologies' base shelf prospectus remain effective?

The base shelf prospectus will remain effective for a period of 25 months.

What will the proceeds from Intermap Technologies' securities be used for?

Proceeds will be utilized for growth strategies, including potential acquisitions and enhancing organic growth.

Is there any certainty that Intermap Technologies will sell securities under the base shelf prospectus?

There is no certainty that any securities will be offered or sold under the prospectus.

What regulations apply to the securities offered by Intermap Technologies?

The securities have not been registered under the U.S. Securities Act and may not be sold in the U.S. without registration or an exemption.