LANGLEY, British Columbia, Jan. 19, 2007 (PRIME NEWSWIRE) -- Nitro Lube, Inc. (Pink Sheets:NTLB), announced today that the company has received confirmation from the NASDAQ Stock Market, that as of Monday, January 22, 2007, at the opening of business, the company's three for one stock split will become effective. The split will be to the benefit of all shareholders of record at the close of business today, January 19, 2007.
Effective Monday, January 22, 2007 the company will trade under the new stock symbol "NLUB."
Nitro Lube, Inc. currently has 36,662,194 shares issued and outstanding, with a trading float of 5,200,000. After the forward split there will be 109,986,580 shares issued and outstanding, with a trading float of 15,600,000.
About Nitro Lube, Inc.
Nitro Lube, Inc. is engaged in the business of manufacturing and worldwide marketing of ultra performance lubricants and fuel conditioners designed to perform in extreme temperatures. All products produced and sold by NTLB contain the revolutionary "PMF 2000" formula. Nitro Lube, Inc. has offices in Langley, BC; Las Vegas, NV; and Indian Wells, CA. The company maintains a website at: http://www.nitrolube.com.
This press release contains statements which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Nitro Lube, Inc., and members of management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those contemplated by such forward-looking statements. These risks and uncertainties include, among other things, volatility of market prices, product demand, market competition, risks inherent in the Company's international operations, and the Company's ability to expand. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.