LICT Corporation to Participate in Enhanced A-CAM Program

Rhea-AI Summary

LICT Corporation announces participation in FCC Enhanced A-CAM program, receiving fixed annual funding from 2024 to 2038 in exchange for broadband expansion.

Positive

• LICT Corporation to receive fixed funding for broadband expansion
• Expansion will provide high-speed broadband services to rural areas

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• None.

RYE, N.Y.--(BUSINESS WIRE)-- LICT Corporation (“LICT”, OTC Pink ®: LICT) announces that we are electing to participate in the Federal Communications Commission (“FCC”) Enhanced Alternative – Connect America Cost Model (“Enhanced A-CAM”). The Enhanced A-CAM support is an update and extension of the current Alternative Connect America Cost model (A_CAM) which LICT and its subsidiaries have participated in since the 2016 inception of the program.

The FCC’s Enhanced A-CAM program is designed to expedite and expand the deployment of high-speed broadband services throughout the nation’s rural areas to all locations that currently receive broadband speeds less than 100/20 Mbps.

This new election is made by state and is for all LICT operating company subsidiaries, located in California, Iowa, Kansas, New Mexico, Utah and Wisconsin.

Enhanced A-CAM will provide LICT a fixed level of annual funding commencing January 1, 2024, through December 31, 2038, in exchange for building facilities to provide a broadband speed of 100/20 Mbps or greater to approximately 19,600 locations.

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/20231002019912/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