Arete Industries, Inc. announced that Donald W. Prosser resigned his position as Chief Financial Officer (principal accounting officer), effective April 20, 2015. Mr. Prosser continues as a director of the Company. He will serve as a consultant to the Company until May 15, 2015.

In connection with Mr. Prosser's resignation, William Stewart, a current director on Board of Directors, will act as interim principal accounting officer. On April 21, 2015, Board of Directors appointed Robert McGraw, Jr. to Board of Directors. Mr. McGraw is the President of McGraw & McGraw CPA.