Outlook Resources Inc. Executes Binding Agreement to Acquire ERTH Solutions Inc.

Outlook Resources Inc. ("Outlook" or the "Company") (TSX VENTURE:OLR), is pleased to announce that, further to its Press Release dated September 22, 2009, it has signed a binding agreement (the "Definitive Agreement") with ERTH Solutions, Inc. ("ERTH Solutions") of Longmont, Colorado to acquire all of the ownership interest of ERTH Solutions.

The transaction will be structured as a three-cornered amalgamation with ERTH Solutions merging with a newly created wholly-owned subsidiary of Outlook. Outlook will acquire 100% of ERTH Solutions by paying US$150,000 to ERTH Solutions and issuing to the shareholders of ERTH Solutions, pro rata, 36,000,000 Units of Outlook on the merger. 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. It is anticipated that principals of ERTH Solutions receiving approximately 55% of the Units to be issued on the acquisition will be subject to a three (3) year surplus escrow under the rules of the TSX Venture Exchange. The transaction is conditional upon receipt of TSX Venture Exchange approval.

Errol Farr, CEO and President of Outlook states "this acquisition is a cornerstone event in Outlook's plan to become a leader in the Bio Resources field. ERTH Solutions' low carbon fertility business provides cost effective carbon reducing solutions for agricultural production including Fortune 500 food producers globally. Originally we had planned to acquire ERTH Solutions over a longer period of time but the opportunity in the sustainable agriculture for low carbon fertility products is far greater than we had anticipated and we believe Outlook shareholders are best served by acquiring ERTH Solutions without delay."

About Outlook

Outlook is a bio-resources company owning its Agassiz Arctic Char aquaculture operation just north of Winnipeg Manitoba and 5% of ERTH Solutions Inc., and plans to acquire the balance. Its mission is to nurture its sustainable fertilizer and compatible bio-resources ventures such as Agassiz, and to operate them profitably for customers and investors by using the technologies of these ventures combined with Outlook's economies of scale. For more information, please visit www.outlookresources.com.

The Company current has 166,456,697 common shares issued and outstanding.

About ERTH Solutions Inc.

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 Aqua Farms

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. For more information, please visit www.agassizaquafarms.com.

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.

SOURCE: Outlook Resources Inc.

Outlook Resources Inc.
Errol Farr
President & CEO
(416) 363-1299
errol.farr@outlookresources.com

Related terms: acquisition, agricultural, agriculture, aquaculture, arctic, business, canada, ceo, colorado, construction, fertilizer, food, law, manitoba, market, merger, president, products, technology, winnipeg