Alange announced that Mr. Jose Mauricio Salgar has tendered his resignation from the Company's board of directors effective immediately. Mr. Salgar has resigned due to the conflict of interest requirements of his employer, which is acquiring a business that may do business in the future with Alange Energy.
Mr. Salgar joined the board of directors in July 2009. While serving as a director of Alange Energy, Mr. Salgar was a member of the Audit Committee and the Reserves Committee.
"We would like to thank Mr. Salgar for his dedicated service to Alange Energy, its board of directors and its shareholders," said the Company's Chief Executive Officer, Luis E. Giusti, "and we wish him well in his future endeavors."
The Company has commenced a search to replace Mr. Salgar on the board of directors and will announce his replacement in due course.
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