Notice of Conversion of 15% Series A1 Convertible Preferred Stock – Arête Industries, Inc.
This agreement is between a holder of 15% Series A1 Convertible Preferred Stock and Arête Industries, Inc. The holder elects to convert their preferred shares into common stock at a conversion price of $0.75 per share, waiving any dividend rights after March 30, 2013. The holder submits the preferred stock certificate and pays $10.00 to complete the conversion. The company, represented by its President and CEO, accepts the conversion on June 28, 2013.
Exhibit 10.17
FORM OF
NOTICE OF CONVERSION
In consideration of $10.00 paid to the holder hereof, along with a waiver of all dividend rights relating to the Dividend Period subsequent to March 30, 2013, for all shares of 15% Series A1 Convertible Preferred Stock (“Series A1 Preferred Stock”) of Arête Industries, Inc., (the “Company”) in the name of the undersigned, the undersigned holder does hereby elect to convert shares of 15% Series A1 Preferred Stock into shares of common stock of the Company (at a deemed conversion price of $0.75 per common share) and does hereby tender to the Company a stock certificate in respect of such converted shares.
| HOLDER | ||
| By: |
| |
| Name: |
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| Date: June 28, 2013 | ||
| ACCEPTED: | ||
| ARÊTE INDUSTRIES, INC. | ||
| By: |
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| Nicholas Scheidt | ||
| President and Chief Executive Officer | ||
| Date: June 28, 2013 | ||
