Gilla Inc. (GLLA.OB) Signs Definitive Agreement to Acquire Terra Merchant Resources Corporation
Today, after the bell, Gilla announced that it entered into a definitive agreement to acquire all the shares of Terra Merchant Resources Corporation ("Terra"), a private company incorporated in Canada. According to the press release, Terra has secured rights to a gold exploration property in Angola. The concession is located about 120 km north of Cabinda City, Angola and covers approximately 200 square kilometers. As terms of the agreement, Terra shareholders will receive 1 share of Gilla common stock as well as one warrant for one half of one Gilla common stock exercisable for 6 months at $0.60 per common…