LICT - LICT Corporation Closes on a New $50 Million Revolving Credit Facility Provided by CoBank

LICT Corporation (“LICT” or the “Company”; OTC Pink ®: LICT) has borrowed the entire $50 million under its revolving credit facility with CoBank. The addition of the $50 million in new borrowings increases LICT’s pro-forma gross cash balance to just under $90 million with net cash of $76 million. LICT expects to continue to generate free cash flow throughout the year.

Dan Hopkins, President and Chief Financial Officer of LICT, said “We made the decision to draw on the CoBank loan facility to increase our liquidity and maintain flexibility given the current uncertain market conditions.”

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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 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, financial markets 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 successful or that financial or other targets will be met. Such forward-looking information is subject to uncertainties, risks and inaccuracies, which could be material.

LICT is a holding company with subsidiaries in broadband and other telecommunications services that actively seeks acquisitions, principally in its existing business areas. LICT is listed on the OTC Pink ® under the symbol LICT. For further information, please visit our website listed above.

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