Intermap Completes Final Contract for Previously Announced $14.5 Million
Letter of Award
DENVER, CO, Jan. 30, 2013
DENVER, CO, Jan. 30, 2013 /PRNewswire/ - Intermap (TSX: IMP), (OTCBB: ITMSF),
a leading provider of geospatial solutions on-demand created from its uniform,
high-resolution 3D digital models of the earth's surface, today announced that
the Company has completed the final contracting requirements relating to the
US $14.5 million Letter of Award previously announced on January 15, 2013.
Under the terms of the contract, Intermap will provide defined geospatial
solutions to an international customer, including elevation and imagery
related information for identified areas in Southeast Asia. Intermap will use
its proprietary airborne radar technology to collect and process the 3D
digital models of the selected areas. The project is scheduled to commence
immediately and is expected to be complete prior to year-end 2013.
The geospatial solutions provided will become the foundation data layer for an
updated national spatial data infrastructure. This new dataset will be used
for improved disaster planning, resource management, national security
interests, infrastructure planning, and the provisioning of new 3D geospatial
information applications, such as Intermap's RiskPro™ and WaterPro™ products.
"Intermap's new Solutions On Demand™ and its unique analytics approach won
this contract for the Company," said Todd Oseth, president and CEO of
Intermap. "We began the process by first understanding the customer's
strategic requirements. We were then able to showcase Intermap's capabilities
and combine the customer's strategic requirements to create a unified
solutions plan. We believe this approach will help to develop an ongoing,
long- term relationship with this customer."
Intermap is an industry leader in location-based services and geospatial
Solutions On Demand™. Through its powerful suite of 3DBI applications and
proprietary development of contiguous databases that fuse volumes of GIS data
into a single source, Intermap is able to provide location-based solutions for
customers in diverse markets around the world that solve today's complex
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.
SOURCE Intermap Technologies Corporation
Rich Mohr, Senior Vice President & Chief Financial Officer
+1 (303) 708-0955
Canada - Financial
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e.vestor Communications Inc.
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Genesis Select Corporation
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