UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported) July 8, 2009
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FIRST CORPORATION
(Name of Small Business issuer in its charter)
COLORAD0 0-52724 90-0219158___
(State or other jurisdiction of (Commission File No.) (IRS Employer
incorporation or organization) Identification No.)
|
254-16 Midlake Boulevard |
Calgary, Alberta |
Canada T2X 2X7 |
(Address of principal executive offices)
(403) 461-7283
(Registrant’s telephone number)
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Item 2 01. Completion of Acquisition or Disposition of Assets
On July 8, 2009 entered into a Letter of Intent containing a binding agreement for a share exchange whereby First Corporation would acquire 1.6 million shares of Acquma Holdings Limited from Louis Consulting in exchange for 3.2 million shares of First Corporation’s restricted common stock. Upon closing, this transaction will result in First Corporation owning 10% of the issued and outstanding shares of Acquma Holdings.
Closing will take place September 15, 2009 or sooner pending tax opinions and financials.
Acquma Holdings Limited is an investment company which currently owns 18% of Tramigo Oy Ltd., a private Finnish company. Tramigo Oy is engaged in the development and marketing of GPS based navigation systems marketed in over 100 countries worldwide. According to reports,Tramigo Oy had revenues of $2,206,400 for the 18 months ended June 30, 2008 with higher revenues for the period ended June 30, 2009.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
EXHIBITS
99.1 Letter of Intent
99.2
Board Minutes – July 8, 2008.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
July 10, 2009
First Corporation
/s/Todd Larsen
Todd Larsen, President
/s/ Sheryl Cousineau
Sheryl Cousineau, Secretary/Treasurer
