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 the northern Florida Panhandle through its wholly-owned subsidiary Gold Run, Inc. The purchase, valued at $151.5 million, adds significant long-lived mineral and real estate assets to the company's balance sheet, substantially increasing LIGA's asset base.
The purchase price is structured with long-term owner financing based on an installment agreement of $151 million, with three equal payments of $50,500,000 due in 2032, 2038 and 2043. An initial deposit of more than $500,000 has been delivered to the seller, providing LIG Assets with exclusive control and rights to the entire acreage 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 asset contains in excess of 200 million tons of limestone reserves with an estimated value of approximately $400 million, representing a long-life, high-quality resource. The company intends to develop the site 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 construction aggregates such as road base and agricultural lime ("ag-lime"), which is used to reduce soil acidity and improve crop yields. In addition, the exceptional purity of the limestone creates the potential to expand into the ultra-pure calcium carbonate market. This material has a broad range of applications, including medical products such as antacids and calcium supplements, as well as industrial uses in construction materials, paper, and paints. Ultra-pure calcium carbonate is also commonly found in consumer products, including toothpaste, cleaning agents, and food additives.
Beyond 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.
"Our primary objective remains the creation of long-term shareholder value through disciplined acquisitions, responsible asset development, and strategic investments in innovative environmental technologies," said management. "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."
For business and technology leaders, this acquisition underscores the strategic importance of securing long-term mineral resources to support infrastructure and industrial supply chains. The $151.5 million addition to LIGA's asset base, combined with the potential for ultra-pure calcium carbonate production, positions the company to capitalize on growing demand for construction materials and specialty chemicals.
The company expects to provide additional updates regarding the Brooks Quarry property, including the progress of the SK-1300 Technical Report Summary, engineering evaluations, permitting activities, and other strategic initiatives as material information becomes available. For more information, visit LIG Assets' website or view the original release on NewMediaWire.
