Crawley manager Sean O'Driscoll claimed on Tuesday that midfielder O'Kane was set for talks to join the League One newboys and Gulls counterpart Martin Ling has confirmed this to be the case.
"When Eunan signed a new contract, both he and his agent requested a release clause to be included, which we were happy to insert because we wanted Eunan to stay," Ling told Torquay's official website.
"We also felt the release clause would ensure our value of Eunan would be met.
"Crawley Town have now fulfilled that criteria, allowing Eunan to discuss a deal with them next week.
"He is currently away on holiday and comes back to England on Monday, but this doesn't mean Eunan O'Kane is definitely going to and they are the only club to have met the criteria of the release clause at this moment in time."