Intermap Technologies closes $28.75-million offering

Executive Summary

• Intermap Technologies Corp. closed an upsized bought‑deal public offering of 9,584,100 Class A common shares at $3.00 per share, generating gross proceeds of $28,752,300 including full exercise of the over‑allotment option.
• The offering was underwritten by a syndicate led by Stifel Nicolaus Canada Inc., with Canaccord Genuity Corp. and Beacon Securities Ltd.; underwriters received a cash commission of $1,725,138 and were issued 575,046 compensation warrants (exercise price $2.1758 U.S., exercisable through Sept. 29 2027).
• Net proceeds will be used for working capital and general corporate purposes, strengthening the balance sheet to support growth in Intermap’s GEOINT data products.

Key Details

• Offering size: 9,584,100 Class A common shares (price $3.00 per share)
• Gross proceeds: $28,752,300 (includes full over‑allotment exercise)
• Underwriters: Stifel Nicolaus Canada Inc. (lead), Canaccord Genuity Corp., Beacon Securities Ltd.
• Underwriter compensation: Cash commission of $1,725,138; 575,046 compensation warrants issued
• Warrant terms: Each warrant allows purchase of one common share at $2.1758 U.S.; exercisable any time until Sept. 29 2027
• Use of proceeds: Working capital and general corporate purposes as described in the prospectus supplement
• Regulatory status: Offering subject to final approval by the Toronto Stock Exchange; prospectus supplement filed on Sept. 24 2025 (base shelf prospectus dated Sept. 15 2025)

Notable Quotes

“The success of this offering reflects investment from long‑term, growth‑oriented institutions that recognize the critical value our customers place on Intermap's proprietary GEOINT data products… A stronger balance sheet matches our objective to increasingly embed exquisite mission‑critical GEOINT in our customer workflows.” – Patrick A. Blott, Chairman & CEO

Materiality Assessment: Material – Positive (significant capital raise enhancing financial position and supporting growth initiatives).