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, valued at $151.5 million, adds significant mineral and real estate assets to the company's balance sheet and is expected to support the production of construction aggregates and high-quality, ultra-pure calcium carbonate.
The purchase price will be paid through long-term owner financing 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, giving LIG Assets exclusive control and rights during the acquisition process. The agreement is subject to further definitive agreements and attorney review, and must comply with regulatory guidelines.
According to historical engineering reports, the property contains in excess of 200 million tons of limestone reserves, with an estimated value of approximately $400 million. This long-life resource is expected to support a range of products, including construction aggregates such as road base and agricultural lime, which is used to reduce soil acidity and improve crop yields. The exceptional purity of the limestone also creates potential for expansion into the ultra-pure calcium carbonate market, with applications in medical products like antacids and calcium supplements, as well as industrial uses in construction materials, paper, paints, and consumer products such as toothpaste and food additives.
In addition to its 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. The company's management emphasized a focus on 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, management stated. The company expects to provide additional updates regarding the property, including the progress of the SK-1300 Technical Report Summary, engineering evaluations, and permitting activities as material information becomes available.
This acquisition follows LIG Assets' strategy of acquiring long-lived mineral assets. The company's website is LIGAssets.net, and more information can be found on their social media channels, including Facebook and Twitter.
