Bakken Resources, Inc. announced that Val M. Holms's position as Chief Executive Officer (CEO) of the company has been terminated by the Board of Directors of the company. On May 6, 2016, Bakken's Board made certain determinations based on its internal investigation. As a result of the internal investigation, Bakken's CEO, President, and Chairman of the Board, Val Holms, took an indefinite leave of absence starting March 24, 2015. Mr. Holms' leave of absence is governed by a Leave of Absence Agreement also dated March 24, 2015.