Rye, New York – May 7, 2014 – LICT Corporation (“LICT”) has obtained a $25 million Line of Credit from a private investment firm. This Line of Credit replaces the Company’s previous $17.5 million Line of Credit with Webster Bank which was to expire on June 30, 2014. With the new financing which expires on June 30, 2015, LICT now has increased financial flexibility to make acquisitions, fund capital investments, and repurchase shares.
The Company wishes to express its appreciation to Webster Bank, with whom it has had a long-term, mutually-beneficial working relationship.
This release may contain 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. It should be recognized that such information should be read in light of the cautionary statements set forth in documents filed by LICT on its website, www.lictcorp.com. There can be no assurance that any transactions referred to will be successful or that financial targets will be met.
LICT Corporation is a holding company with subsidiaries in telecommunications that actively seeks acquisitions, principally in its existing business areas.
LICT Corporation is listed on the Pink Sheets® under the symbol LICT. Its World Wide Web address is: http://www.lictcorp.com.
Contact: Robert E. Dolan
Executive Vice President and Chief Financial Officer