RYE, N.Y., May 7, 2014 /PRNewswire/ -- LICT Corporation ("LICT") has obtained a $25 million Line of Credit from a private investment firm. This Line of Credit replaces the Company's previous $17.5 million Line of Credit with Webster Bank which was to expire on June 30, 2014. With the new financing which expires on June 30, 2015, LICT now has increased financial flexibility to make acquisitions, fund capital investments, and repurchase shares.
The Company wishes to express its appreciation to Webster Bank, with whom it has had a long-term, mutually-beneficial working relationship.
This release may contain 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 assumptions, projections and forecasts which may not prove to be correct or may develop differently from the manner or form originally anticipated. Such forward-looking information must be read and interpreted in light of the cautionary statements set forth in documents filed by LICT on its website, www.lictcorp.com. There can be no assurance that any forward-looking information will be accurate, and such information is subject to uncertainties, risks and inaccuracies, which could be material.
LICT Corporation is a holding company with subsidiaries in telecommunications and multimedia, and actively seeks acquisitions, principally in its existing business areas.
LICT Corporation is listed on the OTC Markets under the symbol LICT. Its World Wide Web address is: http://www.lictcorp.com.
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Contact:
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Robert E. Dolan
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Executive Vice President and Chief Financial Officer
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914.921.8821
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Release:
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14-04
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SOURCE LICT Corporation
