Intermap Closes Private Placement

Strong investor demand from longstanding investors and new shareholders

Funds raised strengthen capital structure and position the Company for growth

Intermap Technologies, a global leader in geospatial content development and intelligence solutions, today announced the closing of its previously announced private placement (“Private Placement”) of Class A common shares of the Company (“Shares”). The Private Placement included the issuance of 4,008,288 Shares at a price of C$0.51 per Share for aggregate gross proceeds of C$2,044,227.

Marketing Technology News: MarTech Interview with Nick Mehta, CEO at Gainsight

The Private Placement included participation from longstanding investors as well as new shareholders. Importantly, this Placement included the addition of a new and large U.S. institutional investor. The capital raised strengthens Intermap’s balance sheet and enables the Company to capitalize on new opportunities, expand its product offerings, pursue new strategic government and commercial contracts and grow existing contracts with key clients.

“We appreciate our shareholders’ support,” said Patrick A. Blott, Intermap Chairman and CEO. “The proceeds of the Private Placement will help fund the future growth of the Company and position us to execute on compelling opportunities.”

Intermap expects to announce its audited year-end financial results before the end of March 2022.

Marketing Technology News: Popchew Raises $3.6M in Seed Funding to Build More Digitally…

Intermap also issued a total of 131,735 warrants to certain finders (the “Warrants”) under the Private Placement at an exercise price equal to the U.S. dollar equivalent of $0.68 per share, which are exercisable for two years from the date of issuance to each finder. The exchange rate used to calculate the U.S. dollar equivalent exercise price was the Bank of Canada’s latest published rate for the day immediately prior to the issuance of the Warrants for each finder.

All securities issued in connection with the Private Placement are subject to a 4-month hold period, during which time trading in the securities is restricted in accordance with applicable securities laws.

The Private Placement and the listing of the Shares issued under the Private Placement and the Shares issuable upon exercise of the Warrants on the Toronto Stock Exchange (the “TSX”) are subject to final approval of the TSX upon satisfaction of customary closing conditions. The TSX conditionally approved the Private Placement and the listing of the Shares issued thereunder and the Shares issuable upon exercise of the Warrants prior to closing the Private Placement.

Marketing Technology News: Xpressdocs Announces Appointment of New CEO and COO

buy modafinil where to buy modafinil
instant payday loans online guaranteed approval no denial payday loans direct lenders only