ADVERTISEMENT
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

LICT Corporation Announces Receipt of Offer for Its Shares

October 13, 2021 GMT

RYE, N.Y.--(BUSINESS WIRE)--Oct 13, 2021--

LICT Corporation (“LICT” or the “Company”; OTC Pink ®: LICT) is announcing that we received an offer to purchase all of LICT’s outstanding stock. Although the price which has been offered represents a price above market, our Board believes it is below the intrinsic value of our enterprise.

In addition, we continue to move on with our previously announced financial engineering.

This announcement is being made to inform our shareholders that the offer described above has been received. We plan to issue no further communication on this offer until Auction 110 concludes.

This release contains certain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of 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 and financial markets, regulatory and other approvals, 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 accomplished or be successful, or that financial targets will be met. Such forward-looking information is subject to uncertainties, risks and inaccuracies, which could be material.

ADVERTISEMENT

LICT Corporation is a holding company with subsidiaries in broadband and other telecommunications services that actively seeks acquisitions, principally in its existing business areas.

LICT Corporation is listed on the OTC Pink ® under the symbol LICT. For further information visit our website at http://www.lictcorp.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20211013005928/en/

CONTACT: Mario J. Gabelli

Executive Chairman and

Chief Executive Officer

Stephen J. Moore

ADVERTISEMENT

Vice President-Finance

914-921-8821

www.lictcorp.com

KEYWORD: NEW YORK UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: TECHNOLOGY MOBILE/WIRELESS NETWORKS TELECOMMUNICATIONS

SOURCE: LICT Corporation

Copyright Business Wire 2021.

PUB: 10/13/2021 12:06 PM/DISC: 10/13/2021 12:06 PM

http://www.businesswire.com/news/home/20211013005928/en