Candorado Operating Company Ltd. - News Releases - Candorado Announces completion of a Non-Brokered Private Placement Financings for $592,000


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	December 03, 2009 Candorado Announces completion of a Non-Brokered Private Placement Financings for $592,000
	Candorado Operating Company Ltd. (the ''Company") (TSX VENTURE: CDO FRANKFURT/ BERLIN: HQU) is pleased to announce it has completed the following financings: Non-Brokered Private Placements 8,100,000 flow-through units ("FT Unit") at a price of $0.05 per FT Unit. Each FT Unit will consist of one flow-through common share and one half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one additional non-flow-through common share at a price of $0.20 per share for a period of 12 months. 3,740,000 non-flow-through units ("NFT Unit") at a price of $0.05 per NFT Unit for gross proceeds of $250,000. Each NFT Unit will consist of one common share and one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share at a price of $0.10 per share for a period of 12 months. 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. Proceeds from the non-flow-through financing will be used for the evaluation and potential acquisition of "rare earth" and additional lithium prospects available to the Company and general working capital purposes. The Company paid finders' fees of 7% cash ($1,400) and 7% share purchase warrants (28,000) on a portion of the non flow through financing. Each of 28,000 share purchase warrants entitle the holder to purchase an additional common share for a period of one year at a price of $0.10. In addition the Company paid a 7% cash finder's fee to First Canadian Securities (r), a division of Limited Market Dealer Inc. and issued share purchase warrants equal to 7% of a portion of the FT Units purchased by the investors through Mineralfields. The Company confirms each share purchase warrant is exercisable for one year at a price of $0.20. 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. 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 expiring on March 19, 2010. About MineralFields, Pathway and First Canadian Securities 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 partnership to investors thought Canada as well as hard-dollar resource limited partnerships to investors thought 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 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 server hundred mining and oil and gas exploration companies to dat through First Canadian Securities (r). The private placement is subject to Exchange approval and in accordance with the securities legislation currently in effect, the shares will be subject to a "hold period" of four months plus one day from the date of issuance. 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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