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Update on LICTandrsquo;s Investment with PTPMS Communications, LLC

LICT Corporation (“LICT” or the “Corporation”; OTC Pink®: LICT) LICT recently has received questions relating to its interest in PTPMS Communications, LLC (“PTPMS”). By way of background, a subsidiary of LICT has a 49% limited liability company interest in PTPMS, which acquired 22 spectrum licenses at auction from the Federal Communications Commission (“FCC”). In 2012, PTPMS sold all of its licenses to the predecessor-in-interest of a subsidiary of Straight Path Communications, Inc. (“Straight Path”). In that transaction, PTPMS retained an interest of 20% in the net proceeds of any subsequent transaction of those licenses. In May 2017, Straight Path announced that it had entered into a transaction to sell itself to Verizon for a total of $ 3.1 billion in Verizon stock. Straight Path has filed an application with the FCC for approval of the transaction. Click here for more.

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