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December 28, 2016
Intermap Offers Debt, Equity Rights Restructuring

Geospatial intelligence corporation Intermap (TSX: IMP) (ITMSF:BB) has agreed with Vertex One Asset Management Inc. on behalf of the Vertex Fund to restructure Intermap´s outstanding indebtedness, reduce its interest and certain other payment obligations, and provide the necessary working capital to pursue Intermap´s business objectives, Intermap said.

As part of these arrangements, Vertex has agreed to provide a standby purchase commitment to backstop the issuance of USD6 million of the corporation´s common shares through an exempt equity rights offering to all existing shareholders. The proceeds will be used to repay a bridge loan.

Vertex has provided a new USD6 million bridge loan to fund general corporate purposes until the rights offering is completed. The bridge loan will be repaid from the gross proceeds of the rights offering (including proceeds received in connection with the standby purchase commitment).

In conjunction with these new financings, Vertex has agreed to restructure its existing indebtedness.

Headquartered in Denver, Colorado, Intermap is an industry leader in geospatial intelligence solutions. It is capable of fusing volumes of accurate bare earth and other geospatial data into a single source to provide location-based solutions for customers in diverse markets around the world.

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