CANDORADO OPERATING CO V.CDO

News Rollback

[Rambo007]

Candorado's CFO and a director resign

2011-02-07 18:12 ET - News Release

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

[Rambo007]

Rumors are Pick4or is applying for position...Maybe this stock might move after all,He will have a close eye on the pennyflipperA roll back 5 for 1 makes more sence.....There properties are valued at 6 million dollarsMaybe this could still trade in the mid twenties after a roll back..

[Rambo007]

I wonder who will be doing their next financing...Maybe Mineralfields since they still have a big position...I don't think it will be the new investors...They should have ran this up to 7.5 cents and did the financing at this price...Who will invest in a PP when Kirk didn't even get the core done from the Manprime...CDO is falling on their last straw..Investors had to go through a rollback

[islandjon]

I have a feeling the Man Prime cores aren't anything great or management would have found the money to have them analyzed.  CDO owns a portable core analyzer so I think they have a pretty good idea at what they have there.  Need a J/V on at least one property and soon.

[Rambo007]

Thanks for the info Islandjon

[goldengirl20]

One can probably Pick up some more in the morning at .025 or .03, Not the kind of update was hoping for. No cash the books will close shortly, big big gamble now.

[wildman4]

I agree with what they need, but I don't agree with the time line.  I don't think it has to be done in the hyper sensitive time line that is suggested.  I have seen companies sit at a spot waiting for financing for a long time. I suspect that if the company can't find financing from somewhere else that they will go to Mineralfields.  That would not make me happy

[trader4ever]

There will be no rollback! Just do not understand why it is announced. Shareholder will all vote against a RB!