LICT Corporation Continues Shareholder Charitable Contribution Program, Spin-off of Michigan Company and Share Repurchase Program

RYE, N.Y., December 06, 2022--(BUSINESS WIRE)--LICT Corporation (OTC Pink: LICT) will continue its Shareholder Charitable Contribution program for all registered shareholders. Each registered shareholder will be eligible to designate a charity to which the company will donate $100 per share on behalf of the shareholder.

At LICT, we believe charitable giving is a cornerstone of society and an obligation for those with means to make a difference in the world. As an organization, LICT will have no control over the donations, but we are happy to make them on behalf of our shareholders

Over the past 6 years, LICT has made more than $6.5 million in charitable contributions.

Shareholders’ shares need to be registered to be eligible to participate in this charitable program. Therefore, any shareholder who has shares that are currently held in street name and wish to participate in this program should contact the institution holding the shares to arrange for their registration in the shareholder’s own name.

Shareholders will have until January 12, 2023, to register shares in their own name to participate in the program. LICT will then distribute a charitable contribution form to all registered shareholders. Completed forms must be returned to LICT no later than January 31, 2023, for the charitable contribution to be made. Only charities that are recognized 501(c)3 organizations will be qualified to receive the donation from LICT on the shareholder’s behalf. A list of eligible charities is available at: Guidestar.org

As previously shared, LICT continues the process of finalizing the spin – off of our Michigan operation. As background, in 2010, LICT spun off ICTC Group Inc, ("ICTC"), which consisted of two broadband telecommunications companies operating in North Dakota, Inter-Community Telephone Company, LLC and Valley Communications, Inc.

LICT’s Board of Directors (the "Board") increased the Company’s authorization to repurchase shares by an additional 500 shares, bringing the total to 844 authorized for repurchase. We will continue to repurchase shares on an opportunistic basis, and it is possible no additional shares will be repurchased.

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.

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Contacts

Stephen J. Moore
Vice President-Finance
914-921-8821