LIG Assets, Inc. (OTCQB: LIGA) 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 company announced the closing of the transaction, which adds $151.5 million in long-lived mineral and real estate assets to its balance sheet, substantially increasing its asset base.
The purchase price is structured under a long-term owner financing 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, attorney review, and compliance with regulatory guidelines.
Based on historical engineering reports, the asset contains in excess of 200 million tons of limestone reserves with an estimated value of approximately $400 million. The property is expected to support the production of construction aggregates such as road base and agricultural lime, which is used to reduce soil acidity and improve crop yields. Additionally, the exceptional purity of the limestone creates potential for expansion into the ultra-pure calcium carbonate market, with applications in medical products, industrial uses, and consumer goods.
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. Management stated that the primary objective remains the creation of long-term shareholder value through disciplined acquisitions, responsible asset development, and strategic investments.
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. For more information, visit www.LIGAssets.net or follow the company on Twitter at https://twitter.com/ligassets.
