Ms. Jennifer Bakken reports

INTERMAP CLOSES ON $12 MILLION IN FINANCING

Intermap Technologies Corp. has closed its previously announced bought deal LIFE offering and concurrent private placement. The company entered into an underwriting and agency agreement with Beacon Securities Ltd. whereby the company issued a total of (i) 2,957,000 Class A common shares of the company at a price of $2.25 per common share for aggregate gross proceeds of $6,653,250, including the full exercise of the underwriter's option, pursuant to the listed issuer financing exemption under Part 5A.2 of National Instrument 45-106 -- Prospectus Exemptions; and (ii) 2,047,225 common shares at the offering price for aggregate gross proceeds of $4,606,256.25, pursuant to other prospectus exemptions under NI 45-106.

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.

In connection with the offerings, the company paid to Beacon cash commissions equal to $675,570.37 and an advisory fee of $13,500. The company also issued Beacon 177,420 non-transferrable compensation options in respect of the LIFE offering and 122,834 non-transferrable compensation options in respect of the concurrent private placement. Each compensation option entitles the holder thereof to purchase one common share from the company, at $1.56850 (U.S.) in respect of the LIFE offering options and $1.67306 (U.S.) in respect of the private placement options, on or before Feb. 20, 2027.

The common shares sold pursuant to the LIFE offering will not be subject to a hold period in Canada. The common shares sold pursuant to the concurrent private placement are subject to the statutory hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws.

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.

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