ARET news by July 15th of merger with oil and gas companyThat's why she is going up...still very cheap.
WESTMINSTER, Colo., June 21 /PRNewswire-FirstCall/ -- Arete Industries, Inc. (OTC Bulletin Board: ARET) (Arete) announced today an update on the status of the letter of intent for merger.
Arete Industries, Inc. announced on May 8, 2006 that it had received a letter of intent and non-refundable deposit of $25,000 for the due diligence period that was to end June 12, 2006. 'The process has been slow but the parties are close to terms on a definitive agreement for the purchase and merger of an oil & gas company,' stated Charles Gamber CEO of Arete. The Company still needs to deal with the status of its inactive subsidiary Aggression Sports, Inc. dba Arete Outdoors and the final settlement of its outstanding debt. The Company feels like it will be able to complete the final agreement and settle all of its open items by no later than the middle of July 2006.