TORONTO, ONTARIO – Tuesday, July 12, 2005– DMTI Spatial Inc., the leading provider of digital geographic mapping and location-based data in Canada, has secured a $1.5 million venture loan from MMV Financial Inc.
Since its inception in 1994, DMTI has been providing Canadian geo-spatial data, geocoding software and address management services to a broad list of major customers in the telecom, utility, government, transportation and internet markets.
Based in Markham, Ontario, DMTI’s focus is on markets that require highly detailed and accurate geospatial data as a core business function. The Company’s tightly integrated multiple proprietary data and software products enhance its customer’s business intelligence – solving critical business problems and driving higher profit levels. DMTI’s customers and partners include The Yellow Pages Group, Industry Canada, Canada Post, General Motors, MapQuest.com and Rogers Cantel.
“The use of location-based intelligence is growing rapidly within business, government and the general public” said Brian Faughnan, SVP, MMV Financial. “DMTI’s management has put together a solid team of professionals that have taken this strong, profitable Company to a market leading position. This, combined with the breadth and depth of its information and analysis, has enabled DMTI to build a significant roster of top name customers.”
John Fisher, President and CEO of DMTI, said, "MMV Financial’s innovative venture financing enabled us to augment our working capital position and begin the next phase of our growth plan. MMV’s streamlined process allowed our management team to remain focused on the opportunities ahead."
About DMTI Spatial Inc.
DMTI Spatial are mapping technology and address management experts. Our best of breed solutions enable clients to harness the power of geography to better understand their customers, optimize resources, realize opportunities and maximize profitability. DMTI Spatial is the creator of: CanMap®, a nation-wide, precision-built street map and routing database; GeoPinpoint™ Suite, an innovative suite of geocoding and address management software; and a comprehensive portfolio of points of interest data, census and postal geography, topographic maps and elevation data. To find out more, visit www.dmtispatial.com or call toll free: 1-877-477-3684.
About MMV Financial
MMV Financial is a Toronto-based specialty finance company providing creative debt solutions directly to mid-stage technology and life sciences companies, with a focus on the Canadian and North American sectors. MMV is backed by top U.S. and Canadian private equity firms and financial institutions including Conning Capital Partners of Hartford, Connecticut, Caisse de dépôt et placement du Québec of Montreal, and Wells Fargo Foothill, a part of Wells Fargo Company. For more information visit http://www.mmvf.com
For more information contact:
President & Chief Executive Officer
DMTI Spatial Inc.
Phone: (905) 948-2010
Fax: (905) 948-1952
Brian F. Faughnan
Senior Vice President
MMV Financial Inc.
Tel: (416) 977-9718
Fax: (416) 591-1393
Copyright ©2005 MMV Financial Inc. All rights reserved.