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 substantial mineral and real estate assets to the company's balance sheet and provides a platform for future development.
The purchase price is structured as long-term owner financing with an installment agreement requiring three equal payments of $50.5 million due in 2032, 2038, and 2043. An initial deposit exceeding $500,000 has been delivered to secure the transaction, granting LIG Assets exclusive control and rights to the entire acreage during the acquisition process. The agreement remains subject to further definitive agreements and attorney review, while complying with regulatory guidelines.
According to historical engineering reports, the property contains in excess of 200 million tons of limestone reserves with an estimated value of approximately $400 million. This represents a long-life, high-quality resource that the company intends to develop for the production of construction aggregates and ultra-pure calcium carbonate. Products expected from the site include road base, agricultural lime (ag-lime) used to reduce soil acidity and improve crop yields, and ultra-pure calcium carbonate, which has applications in medical products such as antacids and calcium supplements, as well as industrial uses in construction materials, paper, paints, and consumer products like toothpaste and food additives.
Management emphasized that the primary objective remains the creation of long-term shareholder value through disciplined acquisitions, responsible asset development, and strategic investments in innovative environmental technologies. The company continues to advance evaluation and testing of its proprietary water treatment and environmental remediation technologies for potential application in slurry ponds and mining operations.
LIG Assets expects to provide additional updates regarding the Brooks Quarry property, including progress on the SK-1300 Technical Report Summary, engineering evaluations, permitting activities, and other strategic initiatives as material information becomes available.
Forward-looking statements in this release are based on current expectations and are subject to risks and uncertainties, including regulatory approvals, permitting, market conditions, financing availability, and engineering results. Historical estimates have not been verified under current SEC SK-1300 standards and should not be interpreted as current mineral resources or reserves.
For more information, visit the company's website at www.LIGAssets.net or follow on Facebook at www.Facebook.com/ligahomes.
