On April 26, 2013, the board of directors of Arete Industries, Inc. appointed Nicholas L. Scheidt as Chief Executive Officer of the company. Mr. Scheidt was appointed to fill a vacancy created by the resignation of Donald W. Prosser as Chairman and Chief Executive Officer on April 26, 2013. Mr. Prosser continues to serve the Company as its interim Chief Financial Officer.

Mr. Scheidt has served as President and Chairman of Apex Financing Services Corp. aka Apex Realty Investments Inc. since 1983; he has served on the board of directors of Truck Wash Inc. since 1989; he has served on the board of directors of Out Reach Housing Corporation since 1992 and he has served as Chief Financial Officer of Truck Wash Inc. since 1995. Mr. Scheidt joined the board on November 21, 2012.