AREE’s Downhiller Bikes Adopted by Copper Mountain Resorts
By Jack Burney
Published by OTCNN.com
10/05/2000 08:25 AM CDT
Arete Industries, Inc. (OTCBB: AREE) subsidiary Arete Outdoors has been accepted by Copper Mountain Resorts in Colorado and an initial order of bikes placed for resort guests to rent this fall. Arete will also demonstrate its breakthrough gravity descent system, the Powder Rush and Dirt Rush Downhillers, at the Interbike Expo in Las Vegas, after being on the waiting list for several months to get into the prestigious bicycle trade show.
Heavily traded AREE stock closed at $0.026 Tuesday on volume of over 2 million shares, virtually unchanged. The stock has been flat after a bounce from $0.0312 to $0.0469 and back in 7 days in September.
The Downhiller is a modified mountain bike without pedals or seat in the summer and with the addition of ski boards, a new form of downhill winter fun. Arete is looking to develop relationships with bike and ski rental shops, especially those located in and around ski areas throughout the US, Canada and overseas.
"We are very proud to announce the Powder Rush Downhiller is approved for use at Copper Mountain Resorts beginning in the 2000-2001 ski season,” said Larry Mortimer, VP - Marketing and Sales of Arete.
David Barry, COO of Copper Mountain responded in kind. “We are excited to bring a fleet of Powder Rush Downhillers on board for our guests," he said. "This family-friendly product will be available for rental at our new Mountain Adventure Center, located in the New Village at Copper."
"Arete Outdoors is an exciting young company with many new, innovative products on the horizon,” Barry said. “In an effort to help them, Copper Mountain and the industry as a whole, we have granted Arete Outdoors access to our mountain for the purpose of testing future products. By offering our guests more recreation options, everybody wins."
"We are launching Arete Outdoors into the winter and summer alpine recreation market with its first three products: the SnowFang Snowshoes, the Powder Rush and the Dirt Rush Downhillers," said Mike Lowe, President of Arete Outdoors. "All of the products will be available to consumers through leading mountain resorts, outdoor retailers, other conventional distribution channels, and the Arete Outdoors' Web site.
“We feel fortunate to be able to attend this (coming Interbike Expo) show at such a late date,” Lowe said, “because we're ready to bring these products to market this coming season. The Rush products are literally creating a new sport and offer a wonderful crossover marketing opportunity for ski areas to increase their customer base."
Copper Mountain is a property of Vancouver-based Intrawest (NYSE: IDR) which owns 10 North American mountain resorts, including Whistler/Blackcomb, North America's most popular mountain resort. Intrawest also owns Sandestin Golf and Beach Resort in Florida and a premier vacation ownership business, Club Intrawest. The company has a significant investment in Europe.
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