Caldera appoints Mavridis as CEO, Reindler resigns

2008-12-05 12:10 ET - News Release

Mr. Bill Mavridis reports

RESULTS OF CALDERA'S SHAREHOLDERS MEETING AND BOARD OF DIRECTORS MEETING: NEW BOARD AND NEW MANAGEMENT

Caldera Resources Inc. held its annual general and special meeting of shareholders yesterday. At the meeting the following resolutions were approved:

• Appointment of McGovern, Hurley, Cunningham, LLP, Chartered Accountants, as auditors of the corporation;
• The election of John Mavridis, Christopher Reindler, Vasilios Mavridis, Ross Orr, Lorne Woods, Mark Billings and Steve Roebuck as directors of the corporation;
• Approval of a non-brokered private placement for up to $420,000 in equity and convertible debenture financing by insiders and other qualified investors;
• Approval of the amendment to the corporation's stock option plan increasing it by options to buy 11.75 million shares to a total of options to buy 28 million shares.

Following the shareholders meeting, the corporation held a board meeting of its newly elected directors. At the meeting it was announced that Mr. Reindler, president and chief executive officer of the corporation, as well as Mike Langoulant, chief financial officer of the corporation, have both resigned effective immediately.

The newly elected board approved the nomination of John Mavridis as chairman of the board, the appointment of Bill Mavridis as president and CEO, Jacques Arsenault as CFO of the corporation and Edward Lerfino as corporate secretary. The corporation also approved to issue incentive stocks options, pursuant to its stock option plan, to each of the management, directors and consultants, with an aggregate issue of options to buy 10 million shares at an exercise price of two cents for a period of five years.

The corporation also approved to move its corporate offices to 900 Peel St., 9th Floor, Montreal, Que., H3C 2H8.

We seek Safe Harbor.