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 transaction, valued at $151.5 million, adds substantial long-lived mineral and real estate assets to the Company's balance sheet, significantly enhancing its financial position and providing a platform for future development.
The purchase price is structured with long-term owner financing through an installment agreement: three equal payments of $50,500,000 due in 2032, 2038, and 2043. An initial deposit of over $500,000 has been delivered to secure the transaction, granting LIG Assets exclusive control and rights during the acquisition process. The agreement is subject to further definitive agreements and attorney review, complying with regulatory guidelines.
Historical engineering reports indicate the property contains in excess of 200 million tons of limestone reserves, with an estimated value of approximately $400 million. This high-quality resource is expected to support the production of construction aggregates such as road base and agricultural lime, which reduces soil acidity and improves crop yields. Additionally, the exceptional purity of the limestone opens potential for ultra-pure calcium carbonate, used in medical products like antacids and calcium supplements, as well as industrial applications in construction materials, paper, paints, and consumer goods including toothpaste and food additives.
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."
Beyond its mineral assets, LIG Assets continues advancing evaluation and testing of its proprietary water treatment and environmental remediation technologies for potential application in slurry ponds and mining operations. The Company 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 involve risks and uncertainties, including regulatory approvals, permitting, market conditions, and financing availability. Historical estimates referenced 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.
