Working in partnership with Grupo GeoSpatial S.A.S. ("GeoSpatial"), Intermap is proud to support Colombia's national mapping program and to announce the award of our second and third contracts for high-resolution NEXTMap® digital terrain models. The project area covers 38 high-priority municipalities as well as the area of the Paramillo and Puinawai national natural parks. The second phase contract award is 2.7x larger than the Phase 1 contract. The third phase contract was awarded at the same time as a result of Intermap's performance providing exquisite data with speed.
IGAC will use the new high-resolution DTM to support the national government's management of natural resources, especially water and forestry. The contract area is composed of environmentally protected and environmentally strategic areas containing mountainous rainforest, which is challenging terrain to map accurately due to the difficulty of measuring the ground beneath trees and on steep slopes. In addition to elevation data, hydrology vectors will be delivered in the local geodetic reference frame and all data will meet the rigorous technical specifications issued in IGAC's Technical Resolutions.
Prior to these three phases of Colombia's National Mapping Initiative, it was challenging to collect and process digital terrain data over Colombia's diverse terrain. Elevation data was often collected from project to project, leaving gaps in coverage. Data was also collected with different sensors depending on the needs of projects, producing differences in precision, quality and data specifications. Intermap's elevation data collection and processing expertise provides the IGAC with high-resolution DTMs that are consistent in precision, quality and data specification across all municipalities and areas of interest.
"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."
To learn more about Intermap's government solutions and contracts, visit www.intermap.com/government-regulated-industries.
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 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.
Founded in 1997 and headquartered in Denver, Colorado, Intermap (TSX: IMP) (OTCQX: ITMSF) is a global leader in geospatial intelligence solutions. The Company's proprietary 3D NEXTMap® elevation datasets and value-added geospatial collection, processing, analytics, fusion and orthorectification software and solutions are utilized across a range of industries that rely on accurate, high-resolution elevation data. Intermap helps governments build authoritative geospatial datasets and provides solutions for base mapping, transportation, environmental monitoring, topographic mapping, disaster mitigation, smart city integration, public safety and defense. The Company's commercial applications include aviation and UAV flight planning, flood and wildfire insurance, environmental and renewable energy planning, telecommunications, engineering, critical infrastructure monitoring, hydrology, land management, oil and gas and transportation. For more information, please visit www.intermap.com.
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