Rye, NY – July 6, 2023 – LICT Corporation (“LICT” or the “Company”; OTC Pink®: LICT) is announcing that the Board of Directors continues to actively analyze and evaluate a full range of means to raise capital, permitting the Company to expand the scope and scale of its businesses, accelerate growth, and to provide speed, and accessibility to our customers, while growing our shareholders’ intrinsic value.
The Company is exploring indications of interest it received from third parties for selected operating entities within LICT. Involvement could include partnering, managing, investing, financing, acquiring, and/or other joint venturing arrangements. The Company states that there can be no assurance that this strategic review process will result in a transaction.
These efforts also include the previously announced spin-off of its Michigan operations to a wholly owned subsidiary, MachTen, Inc. (MachTen) for which a Form 10 Preliminary Registration Statement has been filed with the U.S. Securities and Exchange Commission (‘SEC’). The Company is currently working through the process and continues to expect a third quarter distribution to its shareholders.
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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 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.
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.