MONTREAL, April 27 /CNW Telbec/ - Golden Goose Resources Inc. (TSX-V: GGR) (the "Company") is pleased to report its audited financial statements for the year ended December 31, 2009 with comparative figures for 2008.
2009 Operating results
For the year ended December 31, 2009, the Company reported a net loss of $1,334,287 or $0.03 per share compared to a net loss of $304,227 or $0.01 in 2008. In 2008, the net loss was reduced by the income tax recovery of $960,344 as a result of renunciations in favour of the investors by the Company of tax deductions, which was raised through the issuance of flow-through shares. Before income tax, the loss for year amounted to $1,334,287 compared with $1,264,571 last year.
Fourth Quarter Results of Operations
For the fourth quarter ended December 31, 2009, the Company reported a net loss of $458,555 ($0.01 per share) compared with a net loss of $649,704 ($0.01 per share) for the same quarter of the preceding year. The decrease in net loss is mainly attributable to the tax recovery reduction of $325,043 in 2008 to reflect the final combined tax rate for the year and offsetted by an increase of 64,097 $ in penalty interest on Part XII.6 tax accounted for in general and administrative expenses in 2009.
Additional information in regards to the financial year ended December 31, 2009
The financial information in regards to the financial year ended December 31, 2009 should be read in conjunction with the Company's financial statements and management and discussion analysis dated April 26, 2010. These documents are available at www.sedar.com
ABOUT GOLDEN GOOSE RESOURCES
Golden Goose Resources Inc. is a Canadian public company listed on the TSX Venture Exchange under the symbol GGR. The Company is principally engaged in mineral exploration and acquisition and has a portfolio of gold properties in Ontario and Quebec.
Disclaimer in regards to Forward-Looking Statements
Certain statements included herein, including those that express management's expectations or estimates of our future performance constitute "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Investors are cautioned not to put undue reliance on forward looking statements.
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
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