LIG Assets, Inc. has entered into a definitive agreement to acquire a tract of land in Northwest Florida for the purpose of mining limestone aggregates and high-quality, ultra-pure calcium carbonate. The announcement follows a previously disclosed letter of intent executed several months ago, with the company transferring $500,000 to secure exclusive rights to the acreage. The mining property, located in Florida's northern panhandle, is expected to support production of construction aggregates including road base materials, as well as agricultural lime used to reduce soil acidity.
The site also presents future potential for expansion into the ultra-pure calcium carbonate market, which serves medical, agricultural, and industrial applications. These end uses include antacids and calcium supplements, construction materials, paper and paint products, and consumer goods such as toothpaste, cleaning agents, and food additives. Allan Gillis, Chief Executive Officer of LIG Assets, stated that regulations requiring disclosure of material events within four days necessitated the announcement, noting the transaction remains fluid with additional details to be disclosed later.
The acquisition represents a significant milestone in LIG Assets' strategic diversification efforts, expanding the company's portfolio across agriculture, construction, and industrial markets. LIG Assets is a publicly held global conglomerate focused on strategic acquisition of middle-market industrial companies. Since management transitioned in April 2017, the company has generated nearly $25 million in deposited revenues. LIGA is streamlining operations, leveraging new sales partnerships and joint ventures, pursuing an asset acquisition strategy, and targeting positive operational cash flow in 2026, positioning itself for potential uplisting to a minimum of QB and/or QX status. Additional corporate information and filings are available through OTC Markets.
