Mr. Patrick Blott reports

INTERMAP CLOSES PRIVATE PLACEMENT

Intermap Technologies Corp. has closed its previously announced private placement.

The private placement included the issuance of 2,192,045 units. Each unit consists of one Class A common share of the company and one transferable common share purchase warrant. Each warrant will entitle the holder to purchase one additional share at an exercise price equal to the U.S.-dollar equivalent of 80 Canadian cents per share, which is exercisable for two years from the date of issuance. The units were issued at a price of 55 Canadian cents per unit for aggregate gross proceeds of $1,205,624.75. Unless otherwise indicated, all dollar references are expressed in U.S. dollars.

"We appreciate our investors' support, which enables us to pursue strategic contracts," said Patrick A. Blott, Intermap chairman and chief executive officer. "As we seek to create shareholder value, we remain attentive to costs and sensitive to dilution."

Under the private placement, Intermap also issued 90,300 warrants to certain finders. Each finder warrant is exercisable for one share for two years from the date of issuance to each finder. Forty-eight thousand six hundred of the finders' warrants are exercisable at a price of 48.954 cents per share, being the U.S.-dollar equivalent of 65.75 Canadian cents, and 41,700 of the finders' warrants are exercisable at a price of 58.33 cents per share, being the U.S.-dollar equivalent of 80 Canadian cents. The exchange rate that is used to calculate the U.S.-dollar equivalent exercise price for each the warrants and the finder warrants is the Bank of Canada's latest published rate for the business day immediately prior to the issuance of same.

All securities issued in connection with the private placement are subject to a four-month hold period, during which time trading in the securities is restricted in accordance with applicable securities laws. The Toronto Stock Exchange 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.

About Intermap Technologies Corp.

Founded in 1997 and headquartered in Denver, Colo., Intermap is a global leader in geospatial intelligence solutions, focusing on the creation and analysis of 3-D terrain data to produce high-resolution thematic models. Through scientific analysis of geospatial information, and patented sensors and processing technology, the company provisions diverse, complementary, multisource data sets to enable customers to seamlessly integrate geospatial intelligence into their workflows. Intermap's 3-D elevation data and software analytic capabilities enable global geospatial analysis through artificial intelligence and machine learning, providing customers with critical information to understand their terrain environment. By leveraging its proprietary archive of the world's largest collection of multisensor global elevation data, the company's collection and processing capabilities provide multisource 3-D data sets and analytics at mission speed, enabling governments and companies to build and integrate geospatial foundation data with actionable insights. Applications for Intermap's products and solutions include defence, aviation and UAV (unmanned aerial vehicle) flight planning, flood and wildfire insurance, disaster mitigation, base mapping, environmental and renewable energy planning, telecommunications, engineering, critical infrastructure monitoring, hydrology, land management, oil and gas, and transportation.

We seek Safe Harbor.