Begins trading today, creating more liquidity, transparency and opportunity
DENVER, Colo. – Intermap Technologies Corp. (TSX: IMP) (OTCQX: ITMSF) (“Intermap” or the “Company”), today announced it meets the standards to trade on the OTCQX® Best Market. Intermap begins trading today on the OTCQX under the symbol “ITMSF.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcmarkets.com.
Upgrading to the OTCQX Best Market from the Pink® Market is an important step for Intermap to provide transparent and liquid trading for U.S. investors. The Company meets the high financial standards, follows best practice corporate governance and demonstrates compliance with applicable securities laws. Trading on the OTCQX Market will enable investors to easily trade through the broker of their choice. These streamlined market standards enable Intermap to utilize its home market reporting to make financial information available in the U.S.
As the country’s largest provider of authoritative, quality 3D data, used for terrain navigation and modeling by governments, insurance companies, financial intermediaries, telecommunications companies, aviation, drone, and space-based operators, this step expands Intermap’s exposure to U.S. capital, which will finance the industry’s rapid transition to elevation data-as-a-service (EDaaS). The demand for military-grade 3D data and real-time analytics is accelerating, and Intermap is well-positioned to meet demand. Increasing access to capital comes at a promising inflection point as the Company continues to:
“Your World. Made Simple.”
Trading on the OTCQX will:
“The OTCQX provides greater liquidity and more exposure for emerging companies like ours,” said Patrick A. Blott, Intermap’s Chairman and CEO. “It is a big step up from the Pink® Market, where we used to trade in the U.S. Today’s move is part of our long-term plan to expand Intermap’s access to capital and lead our industry’s transition to provisioning elevation data as-a-service. At the same time, we are providing more liquidity for existing shareholders and creating more opportunity for exposure to new U.S. investors.”
Intermap drove significant growth in 2020, including new partnerships, software subscriptions, product development, and customer wins. Here are some highlights:
B. Riley Securities, Inc. acted as the Company’s OTCQX sponsor. B. Riley Securities, Inc. is a full-service investment bank and subsidiary of B. Riley Financial, Inc., based in Los Angeles with offices across the United States, providing corporate finance, research, sales and trading services.
Intermap Reader Advisory
Certain information provided in this news release, including statements in relation to the Company’s access to capital or increased liquidity, constitutes forward-looking statements. The words “anticipate”, “expect”, “project”, “estimate”, “forecast”, “will be”, “will consider”, “intends” 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. 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. 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 NEXTMap® database and value-added geospatial data management, processing, analytics, fusion and orthorectification software and solutions are utilized across a range of industries that rely on accurate, high-resolution elevation data, including aviation, engineering, environmental planning, government markets, hydrology, insurance, land management, law enforcement and patrol, oil and gas, renewable energy, telecommunications, transportation and utilities. Intermap’s commercial applications include location-based intelligence, risk assessment, geographic information systems, global positioning systems and 3D visualization. For more information, please visit www.intermap.com.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for 11,000 U.S. and global securities. Through OTC Link® ATS and OTC Link ECN, we connect a diverse network of broker-dealers that provide liquidity and execution services. We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.
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