LIG Assets, Inc. (OTCQB: LIGA) announced today that it has completed 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 significant long-lived mineral and real estate assets to the company's balance sheet, substantially enhancing its financial position and providing a platform for future development.
The purchase price 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 over $500,000 has been delivered to secure the transaction. According to historical engineering reports, the property contains in excess of 200 million tons of limestone reserves, estimated to be worth approximately $400 million. These reserves represent a long-life, high-quality resource that the company intends to develop for the production of construction aggregates and high-quality, ultra-pure calcium carbonate.
The property is expected to support the production of a range of products, including road base and agricultural lime, which is used to reduce soil acidity and improve crop yields. Additionally, the exceptional purity of the limestone creates opportunities to expand into the ultra-pure calcium carbonate market, which has applications in medical products such as antacids and calcium supplements, as well as industrial uses in construction materials, paper, paints, and consumer products like toothpaste and cleaning agents.
Management emphasized the strategic importance of the acquisition, stating, "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."
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 expects to provide further updates on the Brooks Quarry property, including the SK-1300 Technical Report Summary, engineering evaluations, and permitting activities, as material information becomes available.
More information about LIG Assets can be found on its website at www.LIGAssets.net. The original press release is available at www.newmediawire.com.
