Outlook Resources Inc.
TSX VENTURE : OLR

Outlook Resources Inc.

July 11, 2007 14:17 ET

Outlook Announces Final Closing of Financing

TORONTO, ONTARIO--(Marketwire - July 11, 2007) - Outlook Resources Inc. ("Outlook" or the "Company") (TSX VENTURE:OLR) is pleased to announce that further to its press release dated June 29, 2007 it has completed its second and final closing of the brokered private placement (the "Offering") resulting in gross proceeds totalling $196,980. The Company issued 3,283,000 units at a price of CDN$0.06 per unit with each unit (a "Unit") consisting of one (1) common share and one (1) share purchase warrant with each full warrant entitling the holder to acquire a further common share at a price of $0.10 until July 10, 2009. As a result of the second and final closing the Corporation has raised a total of $1,201,800.

Northern Securities Inc. acting as agent in the Offering ("NSI" or the "Agent") received a cash commission of $19,698 and broker warrants to acquire 328,300 Units at a price of $0.06 per Unit on the same terms as the Offering.

All securities will be legended and restricted from trading until November 11, 2007.

The proceeds from the offering will be used for upgrades to the Company's aquaculture operations in Gunton, Manitoba to increase capacity to between 100 and 150 metric tonnes from the existing capacity of 30 metric tonnes of annual fish production and for working capital.

After giving effect to today's closing the Company has 88,426,697 common shares issued and outstanding.

The private placements are subject to final approval from the TSX Venture Exchange.

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

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