Three board directors have resigned from The Limestone Boat Company: Bryan Pearson, Dave Grandin, and Alan Gaines.
The Board will continue with three remaining directors, including an independent member, Charles Pennock.
The company says it remains focused on resuming its production operations in New Brunswick later in the year, pending necessary financing.
In May 2024, the company announced it was laying off around 27 employees and temporarily suspending operations at its St. Stephen, New Brunswick, manufacturing facility but said it remains committed to continuing long-term operations in St. Stephen.
The company also said it is actively pursuing liquidity options to strengthen its working capital, including from its royalty financing partner.
Upgrades to tooling, improved quality and production efficiencies were said to be progressing well.
