LICT Corporation has borrowed the entire $50 million under its revolving credit facility with CoBank. The addition of the $50 million in new borrowings increases LICT’s pro-forma gross cash balance to just under $90 million with net cash of $76 million. LICT expects to continue to generate free cash flow throughout the year.

Dan Hopkins, President and Chief Financial Officer of LICT, said, “We made the decision to draw on the CoBank loan facility to increase our liquidity and maintain flexibility given the current uncertain market conditions.”

LICT is a holding company with subsidiaries in broadband and other telecommunications services that actively seeks acquisitions, principally in its existing business areas. LICT is listed on the OTC Pink under the symbol LICT.