Arete Industries, Inc. Announces The Spin-off of Colorado Oil & Gas Inc. Shares to Its Shareholders.NIWOT, Colo. -- second graph, eighth sentence sould be deleted, and the sixth sentence should read: An information statement is expected to be mailed to the shareholders of record along with certificates around the 24th day of September 2005 (sted An information statement is expected to be mailed to the shareholders of record around the 24th day of September 2005.). The corrected release reads: ARETE a·rête n. A sharp, narrow mountain ridge or spur. [French, from Old French areste, fishbone, spine, from Late Latin arista, awn, fishbone, from Latin, awn. INDUSTRIES, INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . ANNOUNCES THE SPIN-OFF The situation that arises when a parent corporation organizes a subsidiary corporation, to which it transfers a portion of its assets in exchange for all of the subsidiary's capital stock, which is subsequently transferred to the parent corporation's shareholders. OF COLORADO OIL & GAS INC. SHARES TO ITS SHAREHOLDERS Arete Industries, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ARET A`ret´ v. t. 1. To reckon; to ascribe; to impute. ) (Arete) announced today the finalization Writing the table of contents (TOC) on a recordable CD or DVD disc. The finalization process ensures that the disc can be played back on most CD and DVD players. See disc-at-once. of the plans for the spin-off shares of Colorado Oil & Gas, Inc. subsidiary (COG) to its shareholders. Arete Industries, Inc. will spin-off its shares of COG to its shareholders of record as of September 9, 2005. The record date was changed to comply with securities regulations from Sept 2, 2005, to Sept 9, 2005. The spin-off will be a dividend of 1 share of COG for every 250 shares Arete owned on the record date. In addition the there will be no fractional shares Fractional share Stocks amounting to less than one full share, usually resulting from splits, acquisitions, exchanges, or dividend reinvestment programs. fractional share Less than one share of stock, that is, one-third or one-half a share. or odd lots of COG issued as a part of this dividend. This means that the minimum number of shares of COG issued to any shareholder of Arete will be 100 (i.e., 25,000 shares of Arete equal 100 shares of COG). An information statement is expected to be mailed to the shareholders of record along with certificates around the 24th day of September 2005. If shareholders of record want a stock certificate mailed to them, they should contact COG and make arrangements for the certificate to be mailed. The stock will be 144 unregistered stock, and when COG completes its registration process with the SEC, the company's transfer agent will send out the registered stock certificates. The registration process is expected to take six months or more, and COG plans to start this process in the forth quarter of 2005. Charles Gamber, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Arete, stated: "This dividend completes the first part of our plan to reorganize re·or·gan·ize v. re·or·gan·ized, re·or·gan·iz·ing, re·or·gan·iz·es v.tr. To organize again or anew. v.intr. To undergo or effect changes in organization. Arete. We will continue to update the shareholders on this process in early September." About the Company Arete Industries, Inc., a development stage company, is a publicly traded holding company with several subsidiaries. Its subsidiary, Colorado Oil and Gas, Inc. ("COG") has been acquiring small producing oil and gas properties and mineral interests, and as part of its strategy to developing in the oil and gas business. The Company has one other subsidiary, Aggression Sports, Inc. dba Arete Outdoors, an outdoor sports equipment manufacturing company that has been inactive since 2001. The Company continues to seek other business acquisitions. Statement as to Forward Looking Statements Certain statements contained herein, which are not historical, are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are subject to risks and uncertainties not known or disclosed herein that could cause actual results to differ materially from those expressed herein. These statements may include projections and other "forward-looking statements" within the meaning of the federal securities laws. Any such projections or statements reflect Arete's or COG's current views about future events and financial performance. No assurances can be given that such events or performance will occur as projected and actual results may differ materially from those projected. Important factors that could cause the actual results to differ materially from those projected include, without limitation, COG's inability to meet the conditions to acquiring its current project including providing financing to pay the purchase price; unexpected difficulties encountered in the investment market; the volatility in commodity prices for oil and gas, the presence or recoverability of estimated reserves, the ability to replace reserves, environmental risks, drilling and operating risks Operating risk The inherent or fundamental risk of a firm, without regard to financial risk. The risk that is created by operating leverage. Also called business risk. , exploration and development risks, competition, government regulation or other action, the ability of management to execute its plans to meet its goals and other risks inherent in their businesses that are detailed in their Securities and Exchange Commission ("SEC") filings. |
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