News Column

Santa Rosa Resources Corp. Reports Financial Results for Q2 2013

Aug 23 2013 12:00AM

Marketwire

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VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 08/23/13 -- Santa Rosa Resources Corp. (TSX VENTURE: STR.H) ("The Company") today announced its quarterly results for the period ended June 30, 2013. The financial statements have been prepared in accordance with International Financial Reporting Standards.

David Roberts, President and CEO, said, "The Directors and Officers of Santa Rosa Resources Corp. are exploring business opportunities to vend into the Company."

Financial Results

For the three months ended June 30, 2013, the Company incurred net income of $7,384, compared to a net loss and comprehensive loss of $35,475 for the three months ended June 30, 2012. There was an operating expenses recovery for the three months ended June 30, 2013 of $7,384, compared to operating expenses of $35,484 in the comparable prior year period.

For the six months ended June 30, 2013, the Company incurred a net loss of $14,190, compared to a net loss and comprehensive loss of $453,547 for the six months ended June 30, 2012. Operating expenses for the six months ended June 30, 2013 were $14,190, compared to $61,353 in the comparable prior year period.

Liquidity and Outstanding Share Capital

As at June 30, 2013 the Company had a working capital deficit of $7,269.

As at August 23, 2013 the Company had 4,471,323 common shares issued and outstanding.

Resignation and Appointment of Director

The Company announces John Jacobson has resigned from the board of directors effective August 23, 2013 in order to pursue other opportunities. The board would like to thank Mr. Jacobson for his services.

The Directors are pleased to announce that Christopher Morris has been appointed to the Board of Directors of the Company under a resolution dated August 23, 2013.

Additional Information

This news release should be read in conjunction with the Company's interim financial statements for the three and six months ended June 30, 2013 and the notes thereto, together with the MD&A for the corresponding period, which are available on SEDAR at www.sedar.com.

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.



Contacts:
Santa Rosa Resources Corp.
David Roberts
President
+1 604 688 1511
droberts@penderfinancial.com





Source: Marketwire