Arete Industries, Inc. Amends Annual Report

Apr 12, 2001, 01:00 ET from Arete Industries, Inc.

    BOULDER, Colo., April 12 /PRNewswire/ -- Arete Industries, Inc.
 (OTC Bulletin Board:   AREE) announced today that due to a transcription error
 on its audited financial statements when being Edgarized, two numbers relating
 to current liabilities on its consolidated balance sheets were left unchanged,
 requiring an amended filing of its Annual Report on Form 10-KSB, recently
 filed with the SEC, to correct these two numbers.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/19990916/ARETE )
     The Company stated that its auditors discovered this error today and that
 an amendment was filed late this afternoon today for an April 13, 2001 filing
 date.  The specific numbers were Accrued Expenses and Total Current
 Liabilities.  The Company stated that the amended Annual Report and Audited
 Financial Statements for the year ended December 31, 2000 would be placed on
 the Company's web-site www.areteindustries.com within the next 48 hours
 replacing the original filing, for viewing and downloading in PDF format.
     The Company regrets this unfortunate situation, which was beyond its
 immediate control.
 
     Safe Harbor Statement under the Private Securities Litigation Reform Act
 of 1995:  Certain statements contained herein which are not historical are
 forward-looking statements that are subject to risks and uncertainties not
 known or disclosed herein that could cause actual results to differ materially
 from those expressed herein.
 
 

SOURCE Arete Industries, Inc.
    BOULDER, Colo., April 12 /PRNewswire/ -- Arete Industries, Inc.
 (OTC Bulletin Board:   AREE) announced today that due to a transcription error
 on its audited financial statements when being Edgarized, two numbers relating
 to current liabilities on its consolidated balance sheets were left unchanged,
 requiring an amended filing of its Annual Report on Form 10-KSB, recently
 filed with the SEC, to correct these two numbers.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/19990916/ARETE )
     The Company stated that its auditors discovered this error today and that
 an amendment was filed late this afternoon today for an April 13, 2001 filing
 date.  The specific numbers were Accrued Expenses and Total Current
 Liabilities.  The Company stated that the amended Annual Report and Audited
 Financial Statements for the year ended December 31, 2000 would be placed on
 the Company's web-site www.areteindustries.com within the next 48 hours
 replacing the original filing, for viewing and downloading in PDF format.
     The Company regrets this unfortunate situation, which was beyond its
 immediate control.
 
     Safe Harbor Statement under the Private Securities Litigation Reform Act
 of 1995:  Certain statements contained herein which are not historical are
 forward-looking statements that are subject to risks and uncertainties not
 known or disclosed herein that could cause actual results to differ materially
 from those expressed herein.
 
 SOURCE  Arete Industries, Inc.