LONDON--(Marketwire -04/12/12)- First Corporation (OTC.BB: FSTC.OB - News) filed Form PRE 14C on April 3, 2012. Further to the form, First Corporation is pleased to confirm that a controlling majority of its Shareholders has provided consent for the execution of the Securities Subscription and Option Agreement with Gecko Landmarks Ltd.
Representations from Gecko's management indicate that Gecko could execute the Agreement within the coming days. Subject to SEC examination for compliance, FSTC looks forward to completing the investment at the earliest possible opportunity.
The Company expects to work closely with Gecko assisting in the monetization and further commercialization of Gecko's location-based services and provision of landmark data for use in mobile phone applications, GPS devices, telecom and internet services -- particularly in fast growing emerging markets
Further information on Gecko's products and services can be found at www.geckolandmarks.com
About First Corporation
First Corporation was incorporated under the laws of the State of Colorado on December 27, 1995. Principal executive offices are located in England. Initially, the Company explored mineral claims for commercially viable deposits of precious and base metals. On May 18, 2008, the Board of Directors voted unanimously to discontinue exploration of mineral claims and has since pursued other opportunities.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements reflect First Corporation's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the failure to complete First Corporation's planned acquisition, its liquidity position and its ability to obtain new funding. In the light of these uncertainties the forward-looking events referred to in this release might not occur, and actual events could differ materially from those described in First Corporation's forward-looking statements.