Torrent Capital Ltd. reported that the Board of Directors has elected Philip Armstrong as Board Chairman. Mr. Armstrong has spent over 40 years in the financial service industry starting his career with Lloyds Bank in the UK. In 1987 Philip was an original partner and CEO of Altamira Investment Services Inc. Altamira pioneered the direct sale mutual fund business in Canada and grew to manage approximately $15 billion in assets. Altamira was sold to National Bank Financial. After leaving Altamira, Philip was a founder and CEO of Jovian Capital Corporation. Jovian was sold to Industrial Alliance in October 2013. He is a director of Marret Resources Inc. and also a director of a number of private companies. Philip has served as Chairman of the Investment Funds Institute of Canada and The Mutual Fund Dealer's Association. In addition he served on the board of the Ireland Fund of Canada. Mr. Armstrong replaces Mr. Kevin Bullock, who will continue to serve on the Company's Board of Directors.