RYE, N.Y.--(BUSINESS WIRE)--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.