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

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.