KELOWNA, BRITISH COLUMBIA--(Marketwire - May 25, 2012) - Candorado Operating Company Ltd. (TSX VENTURE:CDO) is pleased to announce that its management team has been restructured. Kirk Reed has stepped down as CEO in favor of the appointment of Irvin Eisler. Mr. Reed will maintain his position as President until the company's next annual general meeting. Rene Bernard has stepped down as CFO in favor of the appointment of Keith Watts. Harley Sinclair has been appointed as Executive Vice President.
Chris Giroux, Raymond Ashley, and William Gilmour have stepped down as directors of the company in favor of the appointment of Irvin Eisler, Doug James, and Steven Simonyi-Gindele. Kirk Reed and Rob Shives will continue their directorships.
The company wishes to thank each of the outgoing officers and directors for their past contributions and for paving the way for the current restructuring of the company.
Mr. Eisler stated: "I am delighted to step up as CEO of Candorado and to bring a new and revitalized team to the company. Candorado owns excellent exploration properties and our first order of business is to raise necessary financing and launch active programs for the 2012 exploration season."
Mr. Reed stated: "This restructuring engages an experienced team of professionals focused on an aggressive plan to develop the potential of Candorado's projects and increase shareholder value."
Mr. Eisler brings many years of successful management, exploration, and financing with neighboring GWR Resources (TSX-V: GWQ). He is intimately familiar with copper-gold exploration in British Columbia and has a great deal of experience with other public companies and the capital markets.
Harley Sinclair is a retired securities lawyer who advised public companies in the mineral exploration sector for many years and who spent many years as a management member of GWR Resources and working with Mr. Eisler.
All other incoming officers and directors have collectively worked with Mr. Eisler for many years and have earned his trust as valuable team members.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.