Candorado Operating Company Ltd.
TSX VENTURE : CDO
FRANKFURT : HQU
BERLIN : HQU

Candorado Operating Company Ltd.

March 28, 2006 13:10 ET

Candorado Operating Company Ltd.: Closes $150,000 Flow-Through Private Placement; Closes $47,500 Non-Flow-Through Private Placement; Lists on Frankfurt and Berlin Stock Exchanges

KELOWNA, BRITISH COLUMBIA--(CCNMatthews - March 28, 2006) - Candorado Operating Company Ltd. (TSX VENTURE:CDO) (FWB:HQU) (BERLIN:HQU) (WKN#888127)

Private Placements

Candorado is pleased to advise the Company received TSX Venture Exchange ("TSX-VE") approval to its previously announced non-brokered private placement financing for CDN$150,000 on March 17, 2006. The placement consists of 1,200,000 Units at a price of $0.125 per Unit. Each Unit consists of one flow through common share and one non-flow through common share purchase warrant exercisable for one year at a price of $0.20 per warrant.

The Company paid a finders fee of $5,000.00 cash on a portion of the financing.

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 July 18, 2006.

In addition, the Company has also received TSX-VE approval to is previously announced non brokered private placement financing for $47,500 on March 27, 2006. The Placement consists of 380,000 units at a price of $0.125 per Unit. Each Unit consists of one common share and one common share purchase warrant exercisable for a two year period at a price of $0.15.

There were no fees or commission paid in connection with this placement.

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 July 28, 2006.

Listings

Candorado further advises that the common stock of the Company now trades on the Frankfurt and Berlin Stock Exchanges under the symbol "HQU" (WKN#888127). Rene Bernard, President of Candorado states, "It is exciting to give our large shareholder base in Germany and Switzerland an opportunity to trade the Company's shares on two large European exchanges. This will provide the Company with the opportunity to effectively engage a European investor relations firm to introduce the Company to further expand its shareholder, broker and fund manager base in Europe".

Candorado is an aggressive junior exploration company with extensive mineral right holdings in British Columbia's Quesnel Trough, deemed Canada's most prolific copper belt. The Company's other British Columbia holdings include exploration properties such as: the Eldorado Project which lies adjacent to B.C. Metals, Red Cris copper/gold porphyry development ; the Pitt Island claim group which follows a several km long VMS zone wherein a 2005 field program has identified values of over 5% zinc, 2.5% copper, lead, silver and gold over a 4.5 meter and 2.8 meter zone respectively. In addition to its British Columbia holdings another property of Merit to note is the Company's Aurora Extension property located in northeastern Ontario, which is to the south and west of Tradewinds "Aurora" property approximately 10 km south of the historic Detour Lake mine.

Kirk Reed, Director

ON BEHALF OF THE BOARD OF DIRECTORS of Candorado Operating Company Ltd.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of the information contained herein.

Contact Information

  • Candorado Operating Company Ltd.
    Kirk Reed
    Director
    (250) 860-2950
    (250) 860-2957 (FAX)
    Website: www.candorado.com
    or
    Candorado Operating Company Ltd.
    Suite 208, 478 Bernard Avenue
    Kelowna, British Columbia, Canada
    V1Y 6N7