RYE, N.Y., Dec. 31, 2014
/PRNewswire/ -- LICT Corporation (Pink Sheets®:"LICT") is
announcing that its wholly-owned subsidiary, Brighton
Communications Corporation, has obtained a $30 million revolving credit facility from
CoBank, ACB. The facility matures on December 30, 2017 and replaces LICT's current
$25 million facility. The new credit
facility will allow for an expanded share repurchase program and
other potential shareholder and operational
initiatives.
Robert E. Dolan, LICT's Executive
Vice President and Chief Financial Officer said, "We are pleased to
have reached agreement with CoBank for this new facility and to
continue our long association with them. The facility provides us
with increased financial flexibility and adequate liquidity for our
current corporate purposes. As always, we continue to reevaluate
our overall financial structure with an eye toward optimal fit
within our strategic direction."
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 or
that financial targets will be met, 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 Pink Sheets® under
the symbol LICT. Its World Wide Web address is:
http://www.lictcorp.com.
Release: 14-15
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/lict-announces-placement-of-a-30-million-revolving-credit-facility-300014827.html
SOURCE LICT Corporation