Kula Gold (ASX:KGD) noted Forrestania Resources' (ASX:FRS) Thursday statement that it had acquired 85.77% of Kula and urged shareholders who had not yet accepted the offer to accept the bid online with the Automic share registry before the bid closing on Jan. 22, according to a Friday Australian bourse filing.

Kula's directors have all accepted the bid. The directors expect that Kula's shares will be thinly traded, if at all, and that it will require further substantial funding to continue its exploration programs, which

may potentially significantly dilute existing shareholders who do not continue to fund the firm.

Kula will remain listed on ASX until Forrestania acquires a 90% stake, per the filing.