Matt Goldfarb Joins Corporate Executive Team as Special Advisor to the Chairman and Chief Executive Officer

Rhea-AI Summary

LICT Corporation (OTC Pink: LICT) has announced the appointment of Matt Goldfarb as Special Advisor to the Chairman. Goldfarb brings extensive experience in investment and operational sectors, having previously worked with Alvarez & Marsal and led restructuring efforts at various firms. Chairman Mario J. Gabelli expressed enthusiasm about Goldfarb's expertise, which is expected to bolster the company's strategic initiatives. LICT focuses on telecommunications services and actively seeks acquisitions within its business areas.

Positive

• Appointment of Matt Goldfarb as Special Advisor to the Chairman, enhancing leadership capabilities.
• Goldfarb's extensive experience in investment and restructuring can drive value creation.
• Strategic focus on optimizing asset portfolio and driving stakeholder value.

Negative

• None.

RYE, N.Y.--(BUSINESS WIRE)-- LICT Corporation (the “Corporation”; OTC Pink®: LICT) is privileged to announce that Matt Goldfarb has joined LICT as Special Advisor to the Chairman.

Mr. Goldfarb is a seasoned investment professional with substantial operating and transactional expertise across various industries, having demonstrated a lengthy track record of driving stakeholder value in both principal investing and fiduciary capacities.

Most recently, Matt served as a member of Alvarez & Marsal’s restructuring practice, and prior thereto was a founding member of Southport Midstream Partners, a private equity sponsored energy infrastructure investment firm. Prior to that, he held chief executive officer and/or chief restructuring officer roles at Xinergy Ltd. and Cline Mining Corp., as well as served as a member of the investment teams at GSO Capital Partners (Blackstone), Pirate Capital and Icahn Associates Corp.

Mario J. Gabelli, Chairman of the Corporation’s Board, said, “We are thrilled that Matt is joining LICT to help lead our efforts in driving transformational change at LICT. Matt’s deep transactional expertise and problem-solving skills, along with his relationships within both the investment community and certain areas within the telecommunications industry, will greatly strengthen our executive team as we accelerate our strategic efforts to maximize the value of our businesses.”

Mr. Goldfarb echoed those thoughts, adding, “I have been graced with the opportunity to work with Mario on numerous occasions over the past decade in a variety of transactional settings, and am extremely excited to now join Mario and the LICT team as we ramp efforts towards optimizing our asset portfolio and driving stakeholder value.”

Mr. Goldfarb’s office will be located at the Corporation’s headquarters location in Rye, NY.

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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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220131005215/en/

Mario J. Gabelli

Chairman & Chief Executive Officer

Stephen J. Moore

Vice President-Finance

914-921-8821

www.lictcorp.com

Source: LICT Corporation

FAQ

Who is Matt Goldfarb and what is his role at LICT?

Matt Goldfarb has been appointed as Special Advisor to the Chairman at LICT Corporation, bringing significant investment and operational expertise.

What is LICT Corporation's focus in terms of business operations?

LICT Corporation primarily focuses on telecommunications services and seeks acquisitions to enhance its business portfolio.

What is the stock symbol for LICT Corporation?

LICT Corporation is listed on the OTC Pink under the stock symbol LICT.

Who is the Chairman of LICT Corporation?

The Chairman of LICT Corporation is Mario J. Gabelli.

Where is LICT Corporation's headquarters located?

LICT Corporation's headquarters is located in Rye, NY.