PALM DESERT, Calif., June 14, 2007 (PRIME NEWSWIRE) -- Nitro Lube, Inc. (Pink Sheets:NLUB) announced today that Tom Yarbray of Indian Wells, California has been appointed President, CEO and Chairman of its wholly owned subsidiary, Nitro Lube USA, Inc. Also appointed as Directors were Larry Bonafide of Indian Wells, CA and Peter Cahan of Grapeview, WA.
Mr. Yarbray has been a consultant to both private and public companies for over thirty years. He is a long term resident of the Coachella Valley and familiar with that area's Enterprise Zone benefits. He is the Owner/Broker of RTY Investment Properties.
Mr. Bonafide is also a long term resident of Indian Wells, CA. He is a retired executive of Marriott Corporation (MAR), ChevronTexaco Corporation (CVX) and has served as a Director of NLUB since September 19, 2006.
Mr. Cahan is a retired insurance executive and investor. Mr. Cahan has been an investor in NLUB since its inception and brings production distribution expertise to the company.
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 NLUB contain the revolutionary "PMF 2000" formula. Nitro Lube, Inc. has offices in Langley, BC; Las Vegas, NV; and, Palm Desert, CA. Nitro Lube, Inc. maintains websites at: http://www.nitrolube.com and http://www.nitrolubeusa.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.