DENVER, June 15, 2015 /CNW/ - Intermap Technologies Corporation ("Intermap" or the "Company") (TSX: IMP), (ITMSF: BB), a leading provider of location-based solutions, today announced that on June 12, 2015, the Company received an irrevocable notice of conversion from Vertex One Asset Management, Inc., acting on behalf of the Vertex Fund, for the conversion of a US$500,000 convertible note (the "Note") into 5,741,187 common shares of the Company.
The Note was originally issued by the Company on December 12, 2014, via a private placement (the "Note Financing"). For additional information regarding the Note Financing, please refer to the Company's press release dated December 15, 2014, and to the annual and quarterly financial statements filed by the Company following the issuance of the Note.
Headquartered in Denver, Colorado, Intermap Technologies is an industry leader in geospatial solutions on demand with its secure, cloud-based Orion Platform®. Through its powerful suite of software 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 additional information about the Company, 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 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