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 company plans to develop the site for production of construction aggregates and ultra-pure calcium carbonate, adding $151.5 million in long-lived mineral and real estate assets to its balance sheet.
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. According to historical engineering reports, the asset contains in excess of 200 million tons of limestone reserves, with an estimated value of approximately $400 million, representing a high-quality, long-life resource.
The property is expected to support 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 expansion into the ultra-pure calcium carbonate market, with applications in medical products (antacids, calcium supplements), industrial uses (construction materials, paper, paints), and consumer products (toothpaste, cleaning agents, food additives).
Management stated that the acquisition represents another step in expanding the portfolio of long-lived hard asset investments while continuing to pursue opportunities that can enhance shareholder value over time. The company also continues to advance 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. More information can be found on the company's website at www.LIGAssets.net.
