LIG Assets, Inc. (OTCQB: LIGA) announced today that it has completed the acquisition of approximately 1,132 acres comprising the Brooks Quarry limestone property in Marianna, Florida, through its wholly-owned subsidiary Gold Run, Inc. The transaction, valued at $151.5 million, adds significant long-lived mineral and real estate assets to the company's balance sheet and positions LIG Assets for future development of construction aggregates and ultra-pure calcium carbonate.
The purchase price of $151.5 million will be financed through a long-term installment agreement, with three equal payments of $50.5 million due in 2032, 2038, and 2043. An initial deposit of over $500,000 has been paid to secure exclusive control and rights to the entire acreage during the acquisition process. The agreement remains subject to further definitive agreements and attorney review, as well as compliance with regulatory guidelines.
According to historical engineering reports, the property contains more than 200 million tons of limestone reserves, with an estimated value of approximately $400 million. This resource is expected to support production of construction aggregates such as road base and agricultural lime (ag-lime), which is used to reduce soil acidity and improve crop yields. The exceptional purity of the limestone also opens opportunities in the ultra-pure calcium carbonate market, with applications in medical products like antacids and calcium supplements, as well as industrial uses in construction materials, paper, paints, and consumer goods including toothpaste and food additives.
In addition to its mineral assets, LIG Assets continues to advance evaluation and testing of its proprietary water treatment and environmental remediation technologies for potential application in slurry ponds and mining operations.
“Our primary objective remains the creation of long-term shareholder value through disciplined acquisitions, responsible asset development, and strategic investments in innovative environmental technologies,” said management. “The Brooks Quarry acquisition represents another step in expanding our portfolio of long-lived hard asset investments while we continue pursuing opportunities that we believe can enhance shareholder value over time.”
The company expects to provide additional updates regarding the Brooks Quarry property, including the progress of the SK-1300 Technical Report Summary, engineering evaluations, permitting activities, and other strategic initiatives. Investors can follow developments on the company’s website at www.LIGAssets.net and on social media at https://twitter.com/ligassets.
