Forrestania announces conditional scrip takeover bid for Kula Gold

Forrestania Resources, a Western Australian exploration company, has announced a conditional scrip takeover bid for all the shares of Kula Gold. The bid proposes an exchange of one Forrestania share for every 5.6 shares of Kula Gold. This offer values Kula at a premium of 41% to its ten-day volume-weighted average price through 10 October. The directors of Forrestania have noted that the company's bid offers Kula Gold shareholders the chance to benefit from the 80%-owned Mt Palmer Gold Project more quic ...