LIG Assets, Inc. (OTCQB: LIGA) announced the finalization of its 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 adds $151.5 million in long-lived mineral and real estate assets to the company's balance sheet, substantially increasing its asset base.
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 more than $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 is subject to further definitive agreements and attorney review, complying with regulatory guidelines.
Based on historical engineering reports, the property contains in excess of 200 million tons of limestone reserves with an estimated value of approximately $400 million, representing a long-life, high-quality resource. The company intends to develop the site for the production of construction aggregates, such as road base and agricultural lime (ag-lime), which is used to reduce soil acidity and improve crop yields. Additionally, the exceptional purity of the limestone creates the potential to expand into the ultra-pure calcium carbonate market, which has applications in medical products (antacids, calcium supplements), industrial uses (construction materials, paper, paints), and consumer products (toothpaste, cleaning agents, food additives).
Beyond mineral assets, LIG Assets continues to advance the evaluation and testing of its proprietary water treatment and environmental remediation technologies for potential application in slurry ponds and mining operations. 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 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 as material information becomes available. For more information, visit the company's website at www.LIGAssets.net and follow on Twitter at https://twitter.com/ligassets.
This press release contains forward-looking statements within the meaning of federal securities laws, including statements regarding the company's plans, objectives, expectations, and potential development opportunities. These statements are based on current expectations and assumptions and are subject to risks and uncertainties, including regulatory approvals, permitting, market conditions, financing availability, and engineering results. Historical estimates referenced herein have not been verified under current SEC SK-1300 standards and should not be interpreted as current mineral resources or mineral reserves.
