Intermap increases private placement financing to meet strong demand

From GlobeNewswire: 2024-07-19 18:27:35

Intermap Technologies announced an amendment to the terms of its financing, now offering up to 6,666,666 Class “A” common shares at C$0.45 per share for maximum gross proceeds of C$2,999,999.70. The Company is using the proceeds for contracts with the Indonesian government and the U.S. Air Force, as well as other Southeast Asian contracts and a global insurance client agreement. Intermap has received a special area permit from Indonesia and will soon begin deployment in the country after completing upgrades to its technology infrastructure. The Amended Offering is expected to close by August 16, 2024.



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