Ms. Jennifer Bakken reports

INTERMAP ANNOUNCES $5 MILLION BOUGHT DEAL OFFERING

Intermap Technologies Corp. has entered into an agreement with Beacon Securities Ltd. as the sole underwriter in connection with a bought deal private placement of 2,223,000 Class A common shares of the company at a price of $2.25 per common share for aggregate gross proceeds of $5,001,750 (the LIFE offering). In addition, Intermap has granted Beacon an option, exercisable, in whole or in part, at any time up to 48 hours prior to the closing date of the LIFE offering to purchase up to an additional 734,000 common shares at $2.25 per common share for additional gross proceeds of up to $1,651,500.

Concurrent with the LIFE offering, the company intends to pursue a non-brokered private placement of common shares at the offering price.

The company intends to use the aggregate net proceeds of the offerings for working capital and execution of government contracts. With increased capital, Intermap plans to accelerate its programs and augment its services. Further details on the use of proceeds are set worth in the LIFE offering document (as defined herein).

Subject to compliance with applicable regulatory requirements, the common shares to be issued under the LIFE offering will be offered to purchasers resident in all provinces of Canada (excluding Quebec) pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 -- Prospectus Exemptions (NI 45-106) and/or in jurisdictions other than Canada that are mutually agreed to by the company and Beacon and the common shares to be issued under the concurrent private placement will be offered to purchasers resident in all provinces of Canada (excluding Quebec) pursuant to other applicable exemptions from the prospectus requirements under NI 45-106 and/or in jurisdictions other than Canada pursuant to Alberta Securities Commission Rule 72-501 -- Distribution to Purchasers Outside of Alberta. Common shares sold pursuant to the listed issuer financing exemption in Canada will not be subject to resale restrictions under applicable Canadian securities laws. Common shares sold pursuant to the concurrent private placement will be subject to the statutory hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws.

There is an offering document related to the LIFE offering that can be accessed under the company's profile on SEDAR+ and on the company's website. Prospective investors should read this LIFE offering document before making an investment decision.

The offerings are expected to close on or about Feb. 20, 2025, or such other date(s) as the company and Beacon may agree and are subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the conditional approval of the TSX.

The company has agreed to pay Beacon for acting as the underwriter in connection with the LIFE offering: (i) a cash fee in an amount equal to 6 per cent of the gross proceeds of the LIFE offering; and (ii) an aggregate number of non-transferrable compensation options equal to 6 per cent of the number of common shares sold under the LIFE offering. Each compensation option will entitle the holder thereof to purchase one common share from the company at the offering price for a term of 24 months from the closing date.

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.