22 Parent Information (continued) b. Statement of Profit or Loss and Other Comprehensive Income Year ended 31 Dec 2022 $ Year ended 31 Dec 2021 $ Loss for the year (2,083,216) (1,118,587) Other comprehensive income – – Total comprehensive income (2,083,216) (1,118,587) c. Guarantees Therearenoguarantees entered intobySirenGoldLimited for thedebts of its subsidiaries as at 31December 2022 (2021: none). d. Contractual commitments The parent company has no capital commitments at 31 December 2022 (2021: $nil). The parent company’s other commitments are disclosed in Note 17 Commitments. e. Contingent liabilities The parent company’s other commitments are the same as those disclosed in Note 19 Contingent liabilities. 23 Acquisition of Sams Creek Gold Limited During the financial year Siren Gold Limited completed the acquisition of 100% of the share capital in Sams Creek Gold Limited, effective 26 October 2022. Sams Creek Gold Limited has a 100% interest in the Barrons Flat project (Exploration Permit 54454) and an 81.9% interest in the Sams Creek Gold project (Exploration Permit 40338). The acquisition is considered to be an asset acquisition. Purchase Consideration – cash outflow $ Outflow of cash to acquire subsidiary, net of cash acquired Payment for Sams Creek Gold Ltd Acquisition 250,000 Contribution of bank guarantee (NZ$60,000) 53,855 Payment for acquisition of Sams Creek Gold Ltd (net of cash acquired) 303,855 Assets and Liabilities acquired The assets and liabilities recognised as a result of the acquisition are as follows: Westpac TDP Bond Guarantee 53,855 GST receivable 3,491 Withholding tax receivable 211 Exploration and evaluation assets 247,559 Total Assets 305,116 Cash and cash equivalents (233) Trade and other payable (1,028) Total Liabilities (1,261) Total exploration and evaluation asset acquired 303,855 24 Auditor’s Remuneration 2022 $ 2021 $ Auditing or reviewing the financial reports 23,833 25,952 Notes to the Consolidated Financial Statements for the year ended 31 December 2022 Annual Report 2022 75
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