DENVER, CO, Dec. 31, 2014 /CNW/ - (TSX:IMP) - Intermap Technologies Corporation ("Intermap" or the "Company") provides additional information regarding its press release dated December 29, 2014 announcing the re-pricing of certain outstanding warrants; it wishes to clarify that that the Company has applied to the TSX to amend the exercise price to C$0.08 per share for outstanding warrants to purchase 4,791,572 common shares of the Company. The original exercise price of these warrants representing 3,092,572 common shares had an exercise price of C$0.56 per share, and 1,700,000 common shares had an exercise price of C$0.31 per share. The original terms of these warrants were February 7, 2017 and June 27, 2015, respectively, and remain unchanged. The amendment to the warrant exercise price is being given as consideration for the release by the holder of the warrants of a first priority lien in certain of the Company's secured assets and the sharing of security on the remainder of the Company's assets on a pro-rata basis with the new lender under the Company's debt financing completed on December 26, 2014. The amendment to the warrant exercise price is subject to TSX approval.
About Intermap Technologies
Headquartered in Denver, Colorado - Intermap (www.intermap.com) is an industry leader in geospatial solutions on demand with its secure, cloud based Orion Platform™. Through its powerful suite of 3DBI applications and proprietary development of contiguous databases that fuse volumes of geospatial data into a single source, the Orion Platform is able to provide location-based solutions for customers in diverse markets around the world. For more information please visit www.intermap.com.
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
For further information: Intermap Technologies, Rich Mohr, Senior Vice President & Chief Financial Officer, [email protected], +1 (303) 708-0955; Canada - Financial, Cory Pala, Investor Relations, e.vestor Communications Inc., [email protected], +1 (416) 657-2400