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Re: News Releases - Tuesday, November 27, 2007
Candorado Operating Company Ltd. Closes its 1,824,332 Unit Non
Brokered Private Placement
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Candorado Operating Company Ltd. ("Candorado" or the "Company") (TSX
VENTURE: "CDO" FRANKFURT/BERLIN:"HQU") is pleased to announce it has
received TSX Venture Exchange ("TSX-VE") final approval for a non
brokered private placement of 1,824,332 units ("Units") at a price of
$0.45 per unit for total proceeds of $820,949.
Each Unit consists of one "flow-through" common share plus one-half of
one warrant. One full warrant entitles the investor to purchase one
non "flow-through" common share for a period of 24 months from the
closing date of November 14, 2007 at a price of $0.60 per share. The
investors in 1,333,332 of the Units are through MineralFields Group (a
division of Pathway Asset Management).
The Company paid a 4% cash finder's fee to First Canadian Securities
(r), a division of Limited Market Dealer Inc. and granted options equal
to 9% of the Units purchased by the investors through Mineralfields.
The Company confirms each option is exercisable for two years at a
price of $0.45 for one unit with the same terms as above (not $0.60 as
was previously announced in error in the Company's news release of
October 19, 2007). An 8% cash finder's fee has been paid to Carl Jones
on 445,000 units purchased and to First Canada Capital Partners on
23,000 units purchased.
The proceeds of this private placement will be used to fund the
Company's ongoing exploration programs on its British Columbia
properties.
In accordance with securities legislation currently in effect, the
Shares, the Warrants and the Warrant Shares will be subject to a "hold
period" of four months plus one day from closing.
"We are very pleased to be continuing to build our relationship with
MineralFields Group", said Rene Bernard, President. "This is an
important milestone in the growth of Candorado Operating Company Ltd.
and we look forward to working with MineralFields Group as we develop
our holdings in British Columbia."
About Candorado
Candorado is one of British Columbia's largest mineral rights land
holder with its copper/gold porphyry targets within the Quesnel Trough
in Central British Columbia. Further properties include the Serb Creek
molybdenum deposit, the Eldorado property next to the BC Metal's Red
Chris copper porphyry deposit and the Pitt Island VMS prospect all
located in Northern British Columbia.
About MineralFields, Pathway and First Canadian Securities (r)
MineralFields Group (a division of Pathway Asset Management) is a
Toronto-based mining fund with significant assets under administration
that offers its tax-advantaged super flow-through limited partnerships
to investors throughout Canada during most of the calendar year, as
well as hard-dollar resource limited partnerships to investors
throughout the world. Pathway Asset Management also specializes in the
manufacturing and distribution of structured products and mutual funds.
Information about MineralFields Group is available at
www.mineralfields.com. First Canadian Securities(r), a division of
Limited Market Dealer Inc., is active in leading resource financings
(both flow-through and hard dollar)on competitive, effective and
service-friendly terms, with investors both within, and outside of
MineralFields Group.
ON BEHALF OF THE BOARD OF DIRECTORS of
Candorado Operating Company Ltd.
Rene Bernard
President
For Further Information Please Contact:
Candorado Operating Company Ltd.
Rene Bernard, President
Daniel Gallagher, Investor Relations
Tel: (250) 979-2595
Fax: (250) 860-2957
The statements made in this News Release may contain certain
forward-looking statements. Actual events or results may differ from
the Company's expectations. Certain risk factors may also affect the
actual results achieved by the Company.The TSX Venture Exchange has not
reviewed and does not accept responsibility for the adequacy and
accuracy of this Release.
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Copyright (c) 2007 CANDORADO OPERATING COMPANY LTD. (n/a) All rights
reserved. For more information visit our website at
http://www.candorado.com/ or send mailto:info@candorado.com
Message sent on Wed Nov 28, 2007 at 11:49:48 AM Pacific Time
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