Rye, New York – August 29, 2014 – LICT Corporation (OTC Pink®: LICT) (“LICT” or the “Company”) announced today the closing of two transactions between one of its Utah subsidiaries, Cache Valley Wireless, LLC (“CVW”), and Syringa Networks, LLC (“Syringa Networks”). CVW is a unit of LICT’s Utah operating subsidiary, CentraCom, with headquarters in Fairview, Utah. Syringa Networks is a provider of wireline and wireless telecommunications services and facilities, with headquarters in Boise, Idaho and operations in Idaho and Utah as well as several other western states.
In one of the transactions, CVW acquired from Syringa Networks certain fiber optic facilities located in the business district of Salt Lake City, and in the other transaction Syringa Networks acquired from CVW a Federal Communications Commission license for communications spectrum in the Logan, Utah area. In describing the effects of the deals, Eddie Cox, President of CentraCom, said “These transactions will provide great benefits for both of the companies involved and for the customers we serve. CVW’s new fiber optic facilities will substantially increase the area we serve and the bandwidth we are able to offer in Salt Lake City. We are contacting businesses located near these facilities to let them know of their availability beginning immediately.”
CentraCom serves the community of Fairview, Utah and its surrounding area as a Rural Local Exchange Carrier (“RLEC”). CentraCom and its affiliates also provide voice, high-speed data and video services to business, residential and institutional customer at a number of locations throughout Utah.
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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 future financial results, anticipated 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, and such information is subject to uncertainties, risks and inaccuracies, which could be material.
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 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