DENVER, CO, Feb. 4, 2019 /CNW/ - Intermap Technologies
Corporation ("Intermap" or the "Company") today announced that it
has been notified by the Toronto Stock Exchange ("TSX") that the
TSX is reviewing the Company's eligibility for continued listing on
the TSX in respect of its common shares. Intermap intends to work
with the TSX to demonstrate that the Company satisfies the
requirements for continued listing. The minimum market
capitalization for listing on the TSX is $3
million and the minimum public float is $2 million. If the Company cannot demonstrate
that it meets all TSX requirements set out in Part VII of the TSX
Company Manual on or before June 3,
2019, the Company's common shares will be delisted 30 days
from such date.
During the remedial review period, the Company will consider
listing its common shares on another Canadian stock exchange as an
alternative. There can be no assurance that the Company will be
able to achieve compliance with the TSX's continued listing
requirements within the required timeframe or that the Company will
be successful in securing a listing on another Canadian stock
exchange.
About Intermap Technologies
Headquartered in
Denver, Colorado, Intermap (TSX:
IMP) (ITMSF: BB) is an industry leader in geospatial intelligence
solutions. These geospatial solutions can be used in a wide range
of applications including, but not limited to, location-based
information, risk assessment, geographic information systems,
engineering, utilities, global positioning systems maps, oil and
gas, renewable energy, hydrology, environmental planning, land
management, wireless communications, transportation, advertising,
and 3D visualization. Intermap has three core sources of revenue:
multi-sensor data acquisition and collection, enriched data
products, and commercial applications, software and solutions. The
Company is a world leader in data fusion, analytics, and
orthorectification, and has decades of experience aggregating,
enriching, and managing 3-D data derived from a number of different
sensor technologies and data sources. For more information please
visit www.intermap.com.
Intermap Reader Advisory
Certain information
provided in this news release, including statements in relation to
the Company's remedial listing review by the TSX and consideration
of an alternative stock exchange constitutes forward-looking
statements. The words "anticipate", "expect", "project",
"estimate", "forecast", "will be", "will consider", "intends" and
similar expressions are intended to identify such forward-looking
statements. Although Intermap believes that these statements are
based on information and assumptions which are current, reasonable
and complete, these statements are necessarily subject to a variety
of known and unknown risks and uncertainties. Intermap's
forward-looking statements are subject to risks and uncertainties
pertaining to, among other things, cash available to fund
operations, availability of capital, revenue fluctuations, nature
of government contracts, economic conditions, loss of key
customers, retention and availability of executive talent,
competing technologies, common share price volatility, loss of
proprietary information, software functionality, internet and
system infrastructure functionality, information technology
security, breakdown of strategic alliances, and international and
political considerations, as well as those risks and uncertainties
discussed Intermap's Annual Information Form and other securities
filings. While the Company makes these forward-looking statements
in good faith, should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect,
actual results may vary significantly from those expected.
Accordingly, no assurances can be given that any of the events
anticipated by the forward-looking statements will transpire or
occur, or if any of them do so, what benefits that the Company will
derive therefrom. All subsequent forward-looking statements,
whether written or oral, attributable to Intermap or persons acting
on its behalf are expressly qualified in their entirety by these
cautionary statements. The forward-looking statements contained in
this news release are made as at the date of this news release and
the Company does not undertake any obligation to update publicly or
to revise any of the forward-looking statements made herein,
whether as a result of new information, future events or otherwise,
except as may be required by applicable securities law.
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SOURCE Intermap Technologies Corporation