Outlook Resources Inc.
TSX VENTURE : OLR

Outlook Resources Inc.

June 04, 2007 12:36 ET

Outlook Announces Proposed Financing

TORONTO, ONTARIO--(Marketwire - June 4, 2007) - Outlook Resources Inc. ("Outlook" or the "Company") (TSX VENTURE:OLR) wishes to announce that it is undertaking a private placement offering of up to 10,000,000 units of the Company at a price of $0.06 per unit, for gross proceeds of up to $600,000. Each unit (a "Unit") will consist of one common share of the Company and one share purchase warrant (each a "Warrant"). Each Warrant will entitle the holder to acquire an additional common share at the price of $0.10 per share for two years from Closing. The Company will pay a finder's fee of up to 10% cash plus up to 10% Compensation Options for funds raised by an eligible finder. Each Compensation Option entitles the finder to purchase one common share of the Company at a price of $0.10 for twenty-four (24) months from Closing. Insiders of the Company may subscribe for up to a total of 1,000,000 Units for proceeds of up to $60,000.

The insider private placements are exempt from the valuation and minority shareholder approval requirements of Ontario Securities Commission Rule 61-501 (the "Rule") by virtue of the exemptions contained in section 5.5 (4) and 5.7(1)(3) of the Rule. To rely on these exemptions the Units must be issued for cash and the transaction must be approved by two-thirds of remaining independent directors of the Company. Additional details required for the use of these exemptions will be included in the Company's material change report.

The funds received from this private placement will be used for upgrades to the Company's aquaculture operations in Gunton, Manitoba, to settle certain obligations of the Company and for working capital.

The private placement is subject to approval from the TSX Venture Exchange.

Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as productivity of the Company's Aquaculture Operations, changes in demand for and prices for the products of the Company or the materials required to produce those products, labour relations matters, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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