Forrestania Pushes Ahead With Compulsory Acquisition of Kula Gold Despite Dilution

Kula Gold Limited ( (AU:KGD) ) has provided an announcement.

Forrestania Resources Limited, a Western Australia-focused gold exploration and development company, is building scale across key mining districts including Southern Cross, the Eastern Goldfields and the Forrestania region through targeted exploration and acquisitions aimed at defining substantial gold resources for long-term development. The company has lodged a change of substantial holder notice in relation to its takeover of Kula Gold Limited, disclosing that its interest in Kula Gold has been diluted to 88.08% after option holders exercised options on 21 January 2026. Despite falling below the 90% threshold due to this new share issue, Forrestania confirmed that, under the Corporations Act, its compulsory acquisition of all outstanding Kula Gold shares, including the newly issued shares, will still proceed, with its takeover offer scheduled to close at 4pm WST on 22 January 2026, reinforcing its strategy to consolidate ownership of Kula Gold as part of its broader growth ambitions.

More about Kula Gold Limited

Forrestania Resources Limited is a rapidly growing gold exploration and development company focused on building a portfolio of high-quality projects across Western Australia’s premier mining districts. With a refreshed and experienced board, the company is expanding its footprint across the Southern Cross, Eastern Goldfields and Forrestania regions through disciplined exploration and selective acquisitions, targeting significant gold resources that can support long-term development, including projects near the historic Bounty gold mine and in proven mineralised corridors around Coolgardie and Menzies.

Average Trading Volume: 4,558,144

Technical Sentiment Signal: Sell

Current Market Cap: A$102.5M

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