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INTERMAP ™ Intermap Announces Quarterly Results and Support of Colombian National Mapping Program Selected by the government of Colombia to create authoritative elevation data for its national mapping agency DENVER , CO , May 17 , 2021 - Intermap Technologies ( TSX : IMP ) ( OTCQX : ITMSF ) ( " Intermap " or the " Company " ) , a global leader in geospatial intelligence solutions , today announced first quarter financial results . For the quarter ending March 31 , 2021 , the Company reported revenue of $ 0.9 million , compared with $ 0.9 million last quarter , and $ 1.6 million for the first quarter of 2020. Intermap did not realize material government revenue during the quarter , which has been the case since the start of the COVID - 19 pandemic . Although the Company has experienced continued delays in government- related meetings , communication and contracting , activity is improving and the Company will begin to recognize revenue related to its work with Colombia's national mapping agency , the Instituto Geográfico Agustín Codazzi ( " IGAC " ) . In addition , the Company recognized a modest increase in subscription - based revenue . On April 27 , 2021 , the Company completed a private placement raising $ 0.4 million . Loss per share for the quarter improved to $ 0.04 from $ 0.10 for the same period last year , reflecting a reduction of debt and greater capital efficiency . The Company's consolidated financial statements for the quarter ended March 31 , 2021 , along with management's discussion and analysis for the corresponding period and related management certifications , are filed on SEDAR at www.sedar.com . National Mapping Initiative in Colombia Working in partnership with Grupo GeoSpatial S.A.S. ( " GeoSpatial " ) , Intermap is proud to support Colombia's national mapping program and to announce the successful acceptance of high - resolution NEXTMap® Digital Terrain Models covering 62 high - priority municipalities . The contract area comprised mountainous rainforest regions around the country , which is challenging topography because of the difficulty measuring ground beneath trees and on high - slope areas . IGAC will use the new high - resolution DTM to support the national government's management of natural resources , especially water and forestry . In addition to elevation data , hydrology vectors were delivered in the local geodetic reference frame and all data meet the rigorous technical specifications issued in IGAC's recent Technical Resolutions of 2020 . " Intermap's NEXTMap DTM data provides unique value to Colombia's national spatial data infrastructure , enabling the characterization of terrain , enhanced hydrological modeling , and risk management , " said William Aymard , GeoSpatial's Vice President . " The multipurpose cadastre program is an opportunity to solve numerous problems related to land management , and a critical planning and information tool to promote the organization , productive use , and the proper governance of the nation's territory , " said Patrick A. Blott , Intermap's Chairman and CEO . " We are proud to be a part of the solution and look forward to future opportunities in Colombia and around the world . " Intermap Reader Advisory Certain information provided in this news release 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