Arete Industries, Inc. Appoints Michael Lowe as Chief Operating Officer and Completes Consolidation.BOULDER, Colo.--(BUSINESS WIRE)--Aug. 3, 1999-- 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. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :AREE) announced the appointment of Michael Lowe as Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Arete and the Company's operating subsidiaries. Thomas P. Raabe, Chairman and 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 that this move is being made as the Company completes consolidation of all operations to Colorado and is a critical step in the roll-out of its direct mail and e-commerce advertising business and proposed full-scale commercial printing and mailing facility (see press release: Business Wire -- Feb. 17, 1999). Mr. Lowe joined the Company in November, 1998 as Managing Director of Aggression Sports, Inc., dba Arete Outdoor, a minority-owned subsidiary of the Company, to design high-end outdoor adventure products and to implement an e-commerce direct marketing program through the Company's facilities and relationships (see press release: Business Wire -- Dec. 8, 1998). Lowe will be representing this venture at the Outdoor Retailer tradeshow in Salt Lake City, Utah For ships of the United States Navy of the same name, see . Salt Lake City is the capital and the most populous city of the U.S. state of Utah. The name of the city is often shortened to Salt Lake, or its initials, S.L.C. , later this month. Among other entrepreneurial ventures in outdoor sports equipment, Lowe is the founder and former Chairman and CEO of Lowe Alpine Lowe Alpine is an outdoor equipment manufacturer and supplier that originated in Colorado and is now an international company. The brand was created by climber Greg Lowe in 1967. He created an innovative internal framed backpack. Systems, Inc., a leading manufacturer of mountaineering mountaineering or mountain climbing Sport of attaining, or attempting to attain, high points in mountainous regions, mainly for the joy of the climb. and outdoor adventure equipment, hardware, clothing and accessories. Raabe stated: "We have eliminated all overhead and direct expenses related to printing, mailing and customer service and are outsourcing these requirements from our joint venture partner, SourceOne Worldwide." (see press release: Business Wire -- Feb. 26, 1999) "We are focusing on implementing a new pricing structure, simplifying billing, graphics and production systems and directing resources at growing our franchise base. This is the first time this Company has ever been in a position to legitimately promote its business and to accommodate growth," Raabe said. Raabe went on to state: "Mike Lowe has the necessary business and technical skills and the leadership ability to take us through the process of building a state-of-the-art direct marketing organization while managing the current outsourcing relationship with SourceOne. It is our intention that Mike work directly with SourceOne as our outsourcing partner, and to take the lead management role in the transition of ownership and control of the commercial printing operation over to Arete when that part of the joint venture is executed." SourceOne Worldwide, a privately held Denver, Colorado-based company, is a provider of comprehensive marketing services, including print, mail, fulfillment, customer service and database management to Fortune 1000 companies. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. |
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