LIG Assets, Inc. (OTCQB: LIGA) announced today that it has finalized 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 purchase price is $151.5 million, 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 more than $500,000 has been delivered to secure the transaction, granting LIG Assets exclusive control during the acquisition process, which remains subject to definitive agreements and regulatory compliance.
The property contains over 200 million tons of limestone reserves, historically estimated at approximately $400 million in value. The company plans to develop the site for production of construction aggregates, including road base and agricultural lime (ag-lime) to improve soil acidity and crop yields. Additionally, the limestone's high purity opens opportunities in the ultra-pure calcium carbonate market, used in medical products like antacids and calcium supplements, as well as industrial applications in construction materials, paper, paints, and consumer goods such as toothpaste and cleaning agents.
Management stated, "Our primary objective remains the creation of long-term shareholder value through disciplined acquisitions, responsible asset development, and strategic investments in innovative environmental technologies. 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."
In addition to mineral assets, LIG Assets continues advancing evaluation of its proprietary water treatment and environmental remediation technologies for potential use in slurry ponds and mining operations. The company expects to provide updates 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 press release involve 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. For more information, visit LIG Assets' website at www.LIGAssets.net or follow on Twitter at https://twitter.com/ligassets.
