LICT Corporation Announces Sale of its Assets of Brick Skirt Holding Company, Inc.

Rhea-AI Summary

LICT Corporation to sell its 20% share in Brick Skirt Holding Company, LLC to CIBL Inc pending regulatory approval.

RYE, N.Y.--(BUSINESS WIRE)-- LICT Corporation (“LICT” or the “Company”; OTC Pink^®: LICT) is announcing that it will sell its 20% share in Brick Skirt Holding Company, LLC. (formerly DFT Communications) to CIBL Inc, pending regulatory approval.

As background, CIBL was spun off from LICT in 2007, and purchased LICT’s New Hampshire operations, Bretton Woods Telephone Company, in 2019. Bretton Woods continues to utilize Brick Skirt for certain administrative functions as it has since 2013.

LICT purchased DFT in 1996, and in 2014, sold it back to its founding family, the Maytums, of Fredonia, New York, under the name Brick Skirt Holding Company, LLC. As part of the sale process, LICT retained a 20% equity interest in Brick Skirt Holding Company.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230927358604/en/

Mario J. Gabelli

Executive Chairman and

Interim Chief Executive Officer



Stephen J. Moore

Vice President-Finance



914-921-8821

www.lictcorp.com

Source: LICT Corporation