Rye, NY – October 16, 2014 – LICT Corporation (“LICT”; Pink Sheets®: LICT) is announcing that its wholly-owned subsidiary Lynch 3G Communications Corporation (“Lynch 3G”) has deposited an Upfront Payment with the Federal Communications Commission (“FCC”) for the FCC’s Auction 97 of Advanced Wireless Services-3 (“AWS-3”) licenses. The Upfront Payment was required in order for Lynch 3G to participate as a bidder in Auction 97.
Lynch 3G filed its application to participate in Auction 97 on September 12, 2014, and deposited the Upfront Payment with the FCC on October 14, 2014. Lynch 3G funded the Upfront Payment primarily through a loan from its Chairman and Chief Executive Officer, Mario J. Gabelli.
The FCC’s Auction 97 of the AWS-3 licenses is scheduled to begin on November 13, 2014.
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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