Candorado Operating Company Ltd. - News Releases - Candorado Announces Financing with the MineralFields Group


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	November 02, 2009 Candorado Announces Financing with the MineralFields Group
	Candorado Operating Company Ltd. (the "Company") (TSX VENTURE: "CDO" FRANKFURT/BERLIN: "HQU") is pleased to announce it has arranged a non-brokered private placement of 7,000,000 units ("FT Units") at a price of $0.05 per FT Unit for total proceeds of $350,000 to the Mineralfields Group. Each FT Unit will consist of one "flow-through" common share plus one share purchase warrant entitling the investor to purchase one non "flow-through" common share for a period of 24 months at a price of $0.10 per share. First Canadian Securities (r), a division of Limited Market Dealer Inc. will receive a 4% cash finder's fee as well as options equal to 9% of the purchased FT Units. Each option will be exercisable for 24 months at a price of $0.05 for one FT Unit with the same terms as above. The funds raised by way of the flow-through financing will be used for exploration of Candorado's recently acquired La Motte lithium properties in Quebec and ongoing development of the B.C. Quesnel Trough projects. The private placement is subject to TSX-Venture Exchange approval and in accordance with the securities legislation currently in effect, all securities will be subject to a "hold period" of four months and one day from the date of issuance and closing. "We are very pleased to be entering into this relationship with MineralFields Group" said Kirk Reed, President and CEO. "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 the British Columbia and Quebec regions." About MineralFields, Pathway and First Canadian Securities (r) MineralFields Group (a division of Pathway Asset Management), based in Toronto, Vancouver and Calgary, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada 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 (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities (r) is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities (r). About Candorado Candorado is a B.C. based mineral exploration company with extensive mineral tenures in central, northern and southern British Columbia, and lithium properties in Quebec. ON BEHALF OF THE BOARD OF DIRECTORS OF CANDORADO OPERATING COMPANY LTD. Kirk Reed, President and CEO For Further Information Please Contact: Candorado Operating Company Ltd. Tel: (250) 979-2595 Fax: (250) 860-2957 www.candorado.com 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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