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 purchase price is $151.5 million, structured with long-term owner financing requiring 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, granting LIG Assets exclusive control during the acquisition process, which remains subject to further definitive agreements and regulatory compliance.
The acquisition adds significant long-lived mineral and real estate assets to the Company's balance sheet, substantially increasing its asset base. According to historical engineering reports, the property contains over 200 million tons of limestone reserves with an estimated value of approximately $400 million, representing a high-quality, long-life resource. The Company intends to develop the site for the production of construction aggregates, such as road base and agricultural lime, and potentially expand into the ultra-pure calcium carbonate market, which has applications in medical products, industrial materials, and consumer goods.
Management emphasized that the primary objective remains creating long-term shareholder value through disciplined acquisitions and responsible asset development. The Company continues to evaluate its proprietary water treatment and environmental remediation technologies for potential application in mining operations. LIG Assets expects to provide updates on the SK-1300 Technical Report Summary, engineering evaluations, and permitting activities as material information becomes available.
Forward-looking statements in this release are based on current expectations and are subject to risks including regulatory approvals, market conditions, and financing availability. Historical estimates referenced have not been verified under current SEC SK-1300 standards and should not be interpreted as current mineral resources or reserves. For more information, visit the Company's website at www.LIGAssets.net.
