Pasquale DiCapo

July 06, 2009 16:03 ET

Pasquale DiCapo Acquires Common Shares of Outlook Resources Inc.

TORONTO, ONTARIO--(Marketwire - July 6, 2009) - Mr. Pasquale DiCapo ("DiCapo"), 130 King Street West, Suite 2500, Toronto, Ontario M5X 1A9 announces that on July 3, 2009, it acquired ownership of 7,000,000 common shares ("Common Shares") of Outlook Resources Inc. ("Outlook") and 7,000,000 common share purchase warrants (the "Warrants") (each Warrant entitling the holder thereof to acquire one additional Common Share at a price of $0.05 per share for the first year and $0.10 per share for the second year) which securities were acquired by DiCapo directly. These holdings represent approximately 4.7% of the issued and outstanding Common Shares (or approximately 9.05% on a partially diluted basis, assuming exercise of the Warrants only). In addition, on July 3, 2009, joint actors of DiCapo acquired ownership and control of 3,120,000 broker warrants (including an additional 3,120,000 convertible securities underlying such broker warrants) of Outlook (collectively, the "Joint Actor Securities"), which (i) represents approximately 4.1% of the issued and outstanding Common Shares on a partially diluted basis, assuming exercise of the Joint Actor Securities only; and (ii) when taken together with the securities of DiCapo, represent approximately 4.7% of the issued and outstanding Common Shares (or approximately 12.6% on a partially diluted basis, assuming exercise of the Warrants and Joint Actor Securities only).

Dicapo or his joint actors did not own any securities of Outlook prior to the transaction mentioned above.

These transactions were made for investment purposes and DiCapo and his joint actors could increase or decrease their respective investments in Outlook depending on market conditions or any other relevant factor.

To obtain a copy of the report filed pursuant to applicable securities regulations in connection with the foregoing, please contact:

Shaun Drake Tel: 416-848-0107 Fax: 416-848-0790 sdrake@mdcorp.ca

50 Richmond Street East, Suite 101 Toronto, ON M5C 1N7

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