Intermap Technologies announced a private placement to issue 4,300,000 Class ?A? common shares at an issue price of CAD 0.45 per Share for maximum gross proceeds of CAD 1,935,000 on July 3, 2024. In connection with this Offering, the company has engaged a third-party finder to conduct a best-efforts private placement of the Common Shares. The Finder will receive a fee of an aggregate cash fee equal to 1% of the gross proceeds of the Offering; and an issuance of Common Shares equal to 6% of the Common Shares placed by the Finder under the Offering.

The Offering is expected to close in one or more tranches between the date hereof and August 16, 2024 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals. The Company also entered into a capital markets advisory agreement (the ?Sophic Capital Agreement?) with Sophic Capital for the provision of investor relations services to the Company. Pursuant to the terms of the Sophic Capital Agreement, Sophic Capital will assist the Company in the preparation of an investor communications plan, investor materials, news releases, road shows and conference calls.

The Sophic Capital Agreement is for a term of 12 months. The Sophic Capital Agreement will automatically renew for successive periods of six months.