9th Feb, 2006: BAY CITY, MI and TORONTO - Outlook Resources Inc.'s (TSX-V: OLR) wholly owned Agassiz Aqua Farms is exploring incorporating GroFeed Inc. (OTC: GFDI) hydroponic feed production units at their aquaculture farm located in Gunton, Manitoba, Canada.
Based on preliminary discussions with GroFeed Inc., Outlook Resources believes that commercial GroFeed enclosed hydroponic feed units can support the development of sustainable aquaculture (farming of fish and other aquatic organisms in inland and coastal areas).
Mr. John Bottomley, President & CEO, Outlook Resources, stated that "...the advantages of using GroFeed units in conjunction with an aquaculture operation presents the potential to include the utilization of nutrients from the recirculation of the aquafarm water thereby reducing water use while at the same time maintaining water temperature potentially reducing water heating costs." Further, Mr. Bottomley added that Agassiz Aqua Farms plans to develop "...a comprehensive evaluation of the barley sprouts and blades in potential feed markets."
Mr. P. Henry Naskali, President & CEO, GroFeed Inc., said "...that based on our discussions with Agassiz Aqua Farms, we believe that our commercial scale GroFeed units offer an environmentally sustainable, value added opportunity for aquaculture farming." Mr. Naskali added, "...enclosed GroFeed hydroponic feed production units support sustainable agricultural development and help to conserve our natural resources." Based on information supplied by the company, GroFeed units support:
- conserving land - a commercial scale GroFeed unit can displace up to 25 acres of farmland;
- lessening water demand - reduced use and loss from evaporation;
- offering an environmentally non-degrading process that leaves no residual agricultural chemicals in feed and does not contaminate soil;
- providing technically appropriate and straightforward operation with low maintenance;
- offering an economically viable process - cost competitive with traditional feeds grown in fields;
- offering a socially acceptable "organic" animal feed that further enhances food chain safety.
According to Mr. Naskali, "GroFeed working jointly with Outlook Resources offers a tremendous opportunity for introducing renewable technologies and sustainable farming practices. Both companies are very excited at the prospect of introducing both in North America and Europe, the future of farming and aquaculture." GroFeed Inc. and Outlook Resources Inc. have committed to undertaking a feasibility study to explore the use of GroFeed units at Agassiz Aqua Farms as a first practical step towards the introduction of GroFeed systems into Bio-Economy Park projects managed by Outlook Resources.
About GroFeed Inc. (OTC: GFDI)
GroFeed manufactures enclosed hydroponic systems capable of producing 50 kilograms (110 lbs) to 1000 kilograms (2200 lbs) of fresh green barley feed (fodder) per day throughout the year at minimal cost. GroFeed products are offered from refrigerator-sized systems to 53-foot tractor-trailer sized units. GroFeed markets its products as a means of feed supplementation for the animal feed industry. GroFeed Inc. is a Bay City, Michigan, and Toronto-based company with manufacturing facilities near London, Ontario.
About Outlook Resources Inc. (TSX-V: OLR)
Outlook is focused on the rapidly expanding "Bio-Economy" markets emerging in North America, such as fuel ethanol and the fast growing Nutraceutical, functional food and specialty livestock feed ingredients sectors. The business development plan of Outlook Resources is targeted towards optimizing opportunities associated with the Kyoto Protocol, which will continue to drive ahead a number of green energy opportunities.
About Agassiz Aqua Farms Inc.
Agassiz is a Manitoba Corporation dedicated to the procurement, production, processing and marketing of freshwater aquaculture products and is specifically focusing on land based Arctic Char farming operations and specialized Aquatic Feed developments in the Midwest.
The information contained herein regarding risks and uncertainties, which may differ materially from those set forth in these statements, in addition to the economic, competitive, governmental, technological and other factors, constitutes a "forward-looking statement" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, the Private Securities Litigation Reform Act of 1995. While the company believes that the assumptions underlying such forward-looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than those indicated in the forward-looking information contained herein.
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