Forrestania Resources Limited (ASX:FRS), a company focused on mineral exploration and development, today announced an update on its off-market takeover bid for Kula Gold Limited (ASX:KGD). Kula Gold is also a mineral exploration company, focusing on discovering and developing economic precious and battery metals. The announcement, dated January 2, 2026, confirms the status of defeating conditions related to the offer, which was initially dated December 8, 2025.
According to the notice, the Minimum Acceptance condition outlined in the Bid Implementation Agreement, as detailed in section 1 Schedule 2, has been met, as previously announced on December 17, 2025. Furthermore, Forrestania Resources stated that, as announced on December 23, 2025, the offer is now free of all other defeating conditions outlined in section 12.9 of the Bidder’s Statement.
As a result of these developments, Forrestania Resources has declared its takeover offer for Kula Gold wholly unconditional as of the date of the notice. The company also revealed that its current voting power in Kula Gold stands at 82.04%. The offer is scheduled to close at 4:00 PM (AWST) on January 22, 2026.
The announcement was authorised by the board of Forrestania Resources Limited and released to the ASX.
