Press release from CNW Group
Intermap Announces $513,000 Contract
Thursday, December 20, 2012
- Expansion of Previously Announced International 3D Business Intelligence Solutions Contract -
DENVER, Dec. 20, 2012 /CNW/ - Intermap (IMP.TO), (ITMSF:BB), a leading provider of location-based information (LBI) solutions, today announced the Company was awarded an additional $513,000 contract associated with a $2.3 million international 3D Business Intelligence solutions contract announced on November 27, 2012. The total value of the combined contracts is $2.8 million and the Company anticipates substantially all of the deliverables under the two contracts will occur by the end of December 2012. Additional contract funding for this project may occur at future dates.
This contract is an increase in the quantity of data purchased from the Company's NEXTMap data library and is part of the initial phase of a program where Intermap will design, build and deliver 3DBI solutions for an Asia-based client. The solution helps to enable a national spatial information database delivered via the Intermap cloud or on an appliance in the client's data center. Future phases are expected to be used for the creation of custom data layers, the fusion of specialized data sets and the creation of a RiskPro™ web-based application.
Intermap is an industry leader in location-based services and solutions. 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 geospatial challenges.
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:
Rich Mohr, Senior Vice President & Chief Financial Officer
+1 (303) 708-0955
Canada - Financial
Cory Pala, Investor Relations
e.vestor Communications Inc.
+1 (416) 657-2400
United States - Financial
Budd Zuckerman, Investor Relations
Genesis Select Corporation
+1 (303) 415-0200