Outlook Resources Inc.

Outlook Resources Inc.

July 03, 2009 12:45 ET

Outlook Signs Binding Agreement With ERTH Solutions, Inc.

TORONTO, ONTARIO--(Marketwire - July 3, 2009) - Outlook Resources Inc. ("Outlook" or the "Company") (TSX VENTURE:OLR) is pleased to announce that, further to its Press Release dated May 20, 2009, it has signed a binding agreement with ERTH Solutions, Inc. ("ERTH Solutions") to acquire up to a 25% interest in ERTH Solutions for US$600,000. The Company also has an option to acquire the remaining 75% interest in ERTH Solutions from the shareholders of ERTH Solutions on a share exchange basis exercisable after ERTH Solutions reaches certain milestones as set out in the agreement.

The Company paid $50,000 to ESI for an extension pending negotiation of the binding agreement which is to be credited against the purchase price for the initial 5% Interest in ERTH Solutions. The balance of the US$150,000 payable for the 5% Interest will be paid upon receipt of final TSX Venture Exchange approval and completion of the minimum $400,000 financing which is a condition of the agreement with ERTH Solutions. The financing is expected to close imminently.

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. The reader is cautioned not to place undue reliance on such forward-looking statements.

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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