Intermap Technologies issues update on USD 125m award

Intermap Technologies Corporation (TSX:IMP) (ITMSF:BB), on September 29, 2015, disclosed expectations for finalizing the definitive agreements underlying the SDI Program during the fourth quarter of 2015, but was unable to provide exact timing, the company said.

Intermap said it continues to make progress toward finalization of the definitive agreements, however, due to the nature and complexity of the transactions and the fact that certain remaining contractual elements are outside of the company´s control, Intermap remains unable to provide a specific closing date at this time.

The sovereign client intends to use the national spatial data infrastructure (SDI) for the planning, development, and management of national interests, including natural resource exploration and production, environmental protection, land administration, telecommunication, transportation and power networks, defense and homeland security.

The SDI Program will include Intermap´s Orion Platform® software and nation-wide data acquisition, utilizing the company´s proprietary Interferometric Synthetic Aperture Radar (IFSAR) technology, alongside satellite and selective Light Detection and Ranging (LiDAR) coverage.

Headquartered in Denver, Colorado, Intermap Technologies is an industry leader in geospatial solutions on demand with its secure, cloud-based Orion Platform. Through its 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.