Outlook Resources Inc.
TSX VENTURE : OLR

Outlook Resources Inc.

September 24, 2009 08:30 ET

Outlook Resources Inc. Announces Unit Offering

TORONTO, ONTARIO--(Marketwire - Sept. 24, 2009) - Outlook Resources Inc. ("Outlook or the Company") (TSX VENTURE:OLR) is pleased to announce it is undertaking a private placement of units to provide it with working capital. The funds will be used for general working capital, to provide working capital to ERTH Solutions Inc. ("ERTH Solutions") pending execution of a Definitive Agreement to acquire ERTH Solutions, announced in Outlook's Press Release of September 22, 2009, and to make incremental capital improvements to its fish farming operation.

Outlook is offering up to 18,750,000 units of the Company at a price of $0.04 per unit, for gross proceeds of up to $750,000 (the "Offering"). 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 $0.05 per share for the first year and $0.10 per share for the second year following Closing. The Company may pay finder's fees of up to 10% cash plus up to 10% Compensation Options for funds raised by eligible finders. Each Compensation Option will entitle 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 4,687,500 Units for proceeds of up to $187,500, but in no event will insider subscriptions exceed 25% of the Offering. The Offering is subject to regulatory approval.

The insider private placements are exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 ("MI61-101") by virtue of the exemptions contain in section 5.5(a) and 5.7(1) (a) of MI 61-101 in that the fair market value of the consideration for the securities of the Company to be issued to insiders does not exceed 25% of its market capitalization.

Outlook has signed an Amending Agreement with ERTH Solutions to extend the timelines set out in its July 2, 2009 Letter Agreement and defining the terms of a Definitive Agreement for Outlook to acquire 100% of ERTH Solutions.

About ERTH Solutions

ERTH Solutions is a private US corporation headquartered in Longmont, Colorado with technology, products and process to deliver low carbon fertility products to the Turf and Ornamental, Home and Garden and Agricultural markets.

About Agassiz

Agassiz Aqua Farms is a wholly owned subsidiary of Outlook with inland Arctic Char cultivation and processing operation on 160 acres just north of Winnipeg. Agassiz produces high quality fresh Arctic Char filets for the growing fish protein market in Canada and the United States.

About Outlook

Outlook is a bio-resources company with its holdings being a) its Agassiz Arctic Char aquaculture operation just north of Winnipeg Manitoba; and b) the planned acquisition of ERTH Solutions. Its mission is to nurture its sustainable fertilizer and compatible bio-resources ventures, and to operate them profitably for customers and investors by using the technologies of these ventures combined with Outlook's economies of scale.

The statements made in this press release include forward-looking statements that involve a number of risks and uncertainties. These statements relate to future events or future performance and reflect management's current expectations and assumptions. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements, such as the economy, generally, the demand for the Company's products, the availability of funding, and the anticipated costs of construction and operation. These forward-looking statements are made as of the date hereof and Outlook does not assume any obligation to update or revise them to reflect new events or circumstances, except as required by law. Actual events or results could differ materially from the expectations and projections.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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