For the year ended December 31, 2015, purchased services and materials expense was $3.6 million compared to $5.5 million last year. The year-over-year decrease in purchased services and materials was due primarily to decreases in subcontractor expenses associated with the airborne radar collection portion of the Company's mapping services business.

Adjusted EBITDA for the year was negative $7.6 million compared with negative $12.0 million for 2014. For the year 2015, net loss was $18.2 million, or ($0.19) per share, compared with a net loss of $12.8 million, or ($0.14) per share, last year.

The cash position of the Company at December 31, 2015 (cash, cash equivalents and restricted cash) was $0.8 million, compared to $0.5 million at December 31, 2014. Amounts receivable and unbilled revenue at December 31, 2015 was $2.3 million, compared to $1.5 million at December 31, 2014. Working capital decreased to negative $16.6 million at December 31, 2015, compared to negative $8.7 million at December 31, 2014 (see "Intermap Reader Advisory" below).

Detailed financial results and management's discussion and analysis can be found on SEDAR at: www.sedar.com.

As of March 30, 2016, there were 100,237,372 common shares outstanding.

As of March 30, 2016, potential dilutive securities include (i) 6,823,850 outstanding share options in the Company's share option plan with a weighted average exercise price of C$0.41, and (ii) 24,713,130 warrants outstanding with a weighted average exercise price of C$0.08. Each option and warrant entitles the holder to purchase one Class A common share.

Important factors, including those discussed in the Company's regulatory filings ( www.sedar.com) could cause actual results to differ from the company's expectations and those differences may be material. Detailed financial results and management's discussion and analysis can be found on SEDAR at: www.sedar.com.

Conference Call

Intermap will host a conference call on, March 30, 2016, at 11:00 am ET (9:00am MT). 

To participate in the call, please dial +1-647-427-7450 approximately 10 minutes prior to the conference call. A recording of the conference call will be available through April 15, 2016. Please dial +1-416-849-0833 and provide pass code 71278070 to listen to the rebroadcast. The call will also be available on Intermap's website at http://www.intermap.com/investors for replay.

About Intermap Technologies

Headquartered in Denver, Colorado - Intermap ( www.intermap.com) is an industry leader in geospatial solutions on demand with its secure, cloud based Orion Platform™. Through its powerful suite of 3DBI software applications and proprietary development of contiguous databases that fuse volumes of geospatial data into a single source, the Orion Platform is able to provide location- based solutions for customers in diverse markets around the world. For more information please visit www.intermap.com.

Adjusted EBITDA is not a recognized performance measure under GAAP and does not have a standardized meaning prescribed by IFRS. The term EBITDA consists of net income (loss) and excludes interest, taxes, depreciation, and amortization. Adjusted EBITDA is included as a supplemental disclosure because management believes that such measurement provides a better assessment of the Company's operations on a continuing basis by eliminating certain non-cash charges and charges that are nonrecurring. The most directly comparable measure to adjusted EBITDA calculated in accordance with IFRS is net income (loss).

Intermap Reader Advisory

Certain information provided in this news release constitutes forward-looking statements. The words "anticipate", "expect", "project", "estimate", "forecast" 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. You can find a discussion of such risks and uncertainties in our 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. 

Reference is made to the Company's audited Consolidated Financial Statements for the years ended December 31, 2015 and 2014, together with the accompanying notes, which includes a going concern disclosure and such disclosure remains applicable as of the date of the financial statements included herein.

INTERMAP TECHNOLOGIES CORPORATION
Consolidated Balance Sheets
(In thousands of United States dollars)