The company said that each director had indicated the need to devote more time and energy to existing professional responsibilities, which in the future would prevent them from providing effective representation on behalf of Torrent Energy.
Bill Lansing, chairman of Torrent Energy, said: Michael, Curt and George each indicated that his resignation was in no way related to Torrent’s operational performance or financial condition.
The remaining directors will continue to provide active oversight and direction to the company’s management team during this transitional period and our pursuit of new financing. In addition, we will actively pursue qualified new director candidates to serve on the Torrent board.
