SOURCE: First Corporation
LONDON--(Marketwired - Jul 5, 2013) - First Corporation's (OTCBB: FSTC) $1m investment for 10% of Gecko Landmarks in June 2012 included an Option Agreement to purchase an additional 23% equity interest. First Corporation and Gecko Landmarks have recently extended their Option Agreement to August 31, 2013.
Currently, Gecko is focusing on business development in Africa before moving into the rapidly expanding and lucrative Asian markets.
The Companies are also in discussion about how First Corporation can assist Gecko Landmarks develop its business in the United States, Latin America, and South America.
About Gecko Landmarks
Gecko Landmarks offers landmark-based location services. Gecko�s landmark data covers every country with high accuracy. The landmark data enables every mobile phone to access and use Gecko's location-based services. The Company's approach offers consumers instant understanding of the location. The user experience is enhanced when location technology is plugged in by social network and mobile phone companies. Learn more about Gecko Landmarks at www.geckolandmarks.com
About First Corporation
First Corporation was incorporated under the laws of the State of Colorado on December 27, 1995. The Company's activities to date have been limited to organization and capital formation.
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 of First Corporation to complete the 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.