Outlook Resources Inc.

Outlook Resources Inc.

September 22, 2009 09:13 ET

Outlook Resources Inc. Reaches Agreement in Principle to Acquire 100% of ERTH Solutions, Inc.

TORONTO, ONTARIO--(Marketwire - Sept. 22, 2009) - Outlook Resources Inc. ("Outlook") (TSX VENTURE:OLR) is pleased to announce that it has decided to accelerate its acquisition of ERTH Solutions based on the growing momentum in sustainable Fertility products, particularly on the agricultural side. ERTH Solutions low carbon footprint fertility products and systems have substantial upside potential as a provider of low carbon fertility products in the agricultural markets. The acquisition of 100% of ERTH Solutions is subject to regulatory approval.

Outlook has amended (the "Amending Agreement") its Letter Agreement (the "Letter Agreement") dated July 2, 2009 with ERTH Solutions, Inc. ("ERTH Solutions"), referred to in its Press Release dated July 3, 2009, by extending the time for closing the acquisition of a further 20% interest in ERTH Solutions pending execution of a formal Definitive Agreement (the "DA") to acquire 100% of ERTH Solutions.

The Amending Agreement defines the terms under which Outlook will acquire 100% of the shares of ERTH Solutions, accelerating Outlook's acquisition of ERTH Solutions and terminating the Letter Agreement. The formal DA will be negotiated with the key terms defined in the Amending Agreement as follows:

1. Outlook shall acquire 100% of ERTH Solutions by paying $150,000 to ERTH Solutions and issuing to the shareholders of ERTH Solutions, pro rata, 36,000,000 Units of Outlook;

2. Each Unit will be comprised of one (1) common share and one (1) common share purchase warrant exercisable to acquire a further Outlook common share at $0.10 for 3 years;

3. The transaction is conditional upon receipt of TSX Venture Exchange approval and Outlook shareholder approval, if required; and

4. Outlook will provide near term working capital to ERTH Solutions in order to facilitate a more rapid entry into the low carbon fertility markets.

About ERTH Solutions

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

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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