LICT Corporation (“LICT”; OTC Pink®: LICT) updates its
participation of Federal Communications Commission’s (“FCC”) Auctions of
28 GHz and 24 GHz spectrum, referred to as Auctions 101 and 102.
As previously announced, LICT Wireless Broadband Company, LLC (“LICT
Wireless”), a wholly owned subsidiary of LICT, bid in the FCC’s Auctions
101 and 102. In order to maximize our opportunities, we made deposits of
$20 million in Auction 101 and $16 million in Auction 102. Auction 101
was completed on January 24, 2019 and Auction 102 was completed on May
28, 2019. On June 3, 2019, the FCC announced the results of both
Auctions.
In Auction 101, LICT acquired 10 licenses of 28 GHz spectrum in Kansas
and Nevada.
In Auction 102, LICT acquired 47 licenses of 24 GHz spectrum in
California, Iowa, Kansas, Michigan New Hampshire, New Mexico, Utah, and
Wyoming.
These spectrum licenses cover areas both within LICT’s current servicing
areas and beyond, significantly expanding the broadband capabilities of
our subsidiary operations, both geographically and technologically.
LICT Corporation is a holding company with subsidiaries in broadband and
other telecommunications services that actively seeks acquisitions,
principally in its existing business areas.
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. 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. Such forward-looking information
is subject to uncertainties, risks and inaccuracies, which could be
material.
LICT Corporation is listed on the OTC Pink® under the symbol
LICT. For further information visit our website at http://www.lictcorp.com.
Release: 19-4
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