Exhibit 20.2
[[Arete Industries, Inc. Logo]]
COMPANY PRESS RELEASE
Arete Industries Announces Annual Stockholder's Meeting on July 2, 2002
Special Notice of Annual Shareholders Meeting directed to certain
beneficial owners of shares held in "street name" through brokers and
dealers.
For Immediate Release
Friday, July 19, 2002
Contact: Thomas P. Raabe, Chief Executive Officer, (303) 247-1313 ext. 306
email: ir@areteindustries.com
BOULDER, Colorado, July 19, 2002 (Primezone) Arete Industries, Inc. (OTC-
Bulletin Board: AREE) announced today that the Company will hold its annual
stockholders meeting on July 2, 2002 at its executive offices at 2955 Valmont
Road, Suite 300, Boulder, Colorado 80301 at 3:00 pm. The Company wishes to alert
stockholders who have their shares at brokerage firms and hold less than 100,000
shares that they were not mailed proxy materials and are requested to notify the
Company immediately for instructions and proxy materials if they do not plan on
attending and they desire to vote. The Company requests brokers to alert their
customers to this release, which contains the notice of the annual meeting, set
forth in full below.
Thomas Raabe, CEO stated that he regrets this inconvenience, but the mailing to
this group of stockholders was cost prohibitive. "The matters that need to be
addressed, stated in the attached formal Notice, are urgent for the Company to
restructure itself to pursue its current business objectives, and in
anticipation of the pending changes to the small-cap OTC securities market. We
sincerely hope that the shareholders appreciate the merit and urgency of the
matters to be addressed at the meeting and that they will contact the Company
with their contact information, so that they can participate."
Proxy Statements, Proxy Forms and other information are available to
shareholders who call, fax or email their requests to the Company on or before
June 30, 2002, and return a signed Proxy with satisfactory evidence of their
holdings as of June 3, 2002, the record date of the meeting. Shareholders can
also download the Company's amended annual report on Form 10K-SB/A from the
SEC's home page on the Internet.
The Company expects to have a quorum present at the meeting but plans to adjourn
the Annual Meeting on a delayed basis allowing an additional ten (10) days from
the meeting date to allow late voting through ADP and/or mailed in proxies from
beneficial owners who will not receive proxy materials delivered by ADP.
The formal Notice of the Annual Meeting follows:
Notice of Annual Meeting of Stockholders of Arete Industries, Inc.
1
To the Stockholders of Arete Industries, Inc.
NOTICE IS HEREBY GIVEN that the Annual Meeting of Stockholders of Arete
Industries, Inc. (the "Company") will be held at the offices of the corporation,
located at 2295 Valmont Road, Suite 300, Boulder, Colorado, at 3:00 pm, mountain
daylight time, on Tuesday, July 2, 2002, (or an alternate location in Boulder,
Colorado depending on actual attendance) for the following purposes:
1. To elect three directors to serve until the next annual meeting of
Stockholders of the Company and until their successors have been duly
elected and qualified.
2. To consider and adopt the proposed 2002 Omnibus Stock Option and Incentive
Plan with formula and insider grants.
3. To ratify the appointment of the firm of Causey Demgen and Moore, Inc.
CPA's, Denver, Colorado, as independent certified public accountants to
audit the financial statements of the Company for the fiscal year ending
December 31, 2002.
4. To authorize a consolidation of the Company's outstanding common stock of
up to 1 for 20.
5. To approve a change of the Company's domicile from Colorado to Nevada.
6. To consider and act upon such other business as may properly come before
the meeting or any postponement or adjournment thereof.
Only Stockholders of record at the close of business on June 3, 2002, are
entitled to notice of and to vote at the meeting, or any adjournment thereof. A
complete list of stockholders entitled to vote at the meeting will be available
for examination for ten (10) days prior to the meeting by any stockholder, for
any purpose relating to the meeting, during the ordinary business hours at the
Company's principal business offices located at 2955 Valmont Road, Suite 300,
Boulder, Colorado 80301.
You are invited to attend the meeting. Stockholders unable to attend the
Annual Meeting in person who have not received proxy materials from their
brokerage firms are requested to contact the Company at (303) 247-1313, fax:
(303) 247-1315 or email: ir@areteindustries.com to obtain proxy materials. These
Shareholders must submit evidence of their ownership with a brokerage account
statement showing their holdings as of June 3, 2002 along with their Proxies
including powers of attorney, if necessary. Proxies are to be returned to the
Company or to the transfer agent Computershare Trust Company, Inc. 350 Indiana
Street, Suite 800, Golden, Colorado 80401, at least 48 hours (excluding
Saturdays, Sundays and statutory holidays) before the time of the Annual Meeting
or adjournment thereof or with the chairman of the Annual Meeting prior to the
commencement thereof. However, voting of late Proxies will be counted if
received on or before 10 days after the meeting date to allow certain beneficial
owners not receiving Proxy Materials from their brokerage firms to participate
in the meeting.
Unregistered Stockholders who received the Proxy through an intermediary
must deliver the Proxy in accordance with the instructions given by such
intermediary.
BY ORDER OF THE BOARD OF DIRECTORS
/s/ Thomas P. Raabe
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Thomas P. Raabe, Chairman
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