Mr. Kirk Reed reports
Mark Naylor, director, and Terese Gieselman, chief financial officer, have resigned from Candorado Operating Company Ltd. The company has appointed Rene Bernard as interim chief financial officer. The company is actively pursuing additional directors and management to fill the vacancies.
At the company's upcoming annual general meeting, the company will be seeking shareholder approval to consolidate the company's shares on the basis of one new share for up to five old shares in the future. Management believes that in order to secure alternate financing and avoid significant dilution of its existing shareholders, it is in the best interests of the company and its shareholders to consider the consolidation of its shares at this time.
We seek Safe Harbor.