RYE, N.Y.--(BUSINESS WIRE)--LICT Corporation (“LICT” or the “Company”; OTC Pink®: LICT) is announcing the signing of a definitive agreement to sell its 10 MHz AWS Federal Communications Commission (FCC) License in the Topeka, Kansas Basic Trading Area.
The transaction is subject to FCC consent and is expected to close in the fourth quarter of 2020 or the first quarter of 2021.
Dan Hopkins, President and Chief Financial Officer of LICT said, “We are pleased to announce this transaction to monetize an FCC license which is a non-core asset of the business. The proceeds from this asset sale will further strengthen the financial condition and liquidity of LICT.”
This release contains certain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, including without limitation anticipated financial results, financing, capital expenditures and corporate transactions. It should be recognized that such information is based upon certain assumptions, projections and forecasts, including without limitation business conditions, financial markets and the cautionary statements set forth in documents filed by LICT on its website, www.lictcorp.com. As a result, there can be no assurance that any possible transactions will be successful or that financial or other targets will be met. Such forward-looking information is subject to uncertainties, risks and inaccuracies, which could be material.
LICT is a holding company with subsidiaries in broadband and other telecommunications services that actively seeks acquisitions, principally in its existing business areas. LICT is listed on the OTC Pink ® under the symbol LICT. For further information, please visit our website listed above.
Daniel E. Hopkins, President & CFO
Stephen J. Moore, Vice President-Finance