LAS VEGAS, April 5, 2006 (PRIMEZONE) -- Nitro Lube, Inc. (Pink Sheets:NTLB) announced today that it has successfully completed the acquisition of 100% of the outstanding common stock of Nitro Lube Canada, Ltd. in exchange for 4,000,000 shares of NTLB's common stock. The shares issued by NTLB are "restricted" pursuant to SEC Rule 144 and the acquisition is effective immediately.
Jason I. Rite, President and CEO, was quoted, "The acquisition of this nine year old Canadian company, its worldwide customer base, products and marketing expertise, positions Nitro Lube, Inc. prominently in the world market of high tech lubricants." He further stated, "This is not just another oil and fuel additive company we have purchased but a world leader lubricant company with proven, superior lubricants containing the advanced 'PMF 2000' Formulation Technology."
About Nitro Lube, Inc.
Nitro Lube, Inc. is engaged in the business of manufacturing and worldwide marketing of high tech lubricants and fuel conditioners. All products, produced and sold by NTLB contain the revolutionary "PMF 2000" formula. Nitro Lube, Inc. has offices in Las Vegas, Nevada, Indian Wells, California and Langley, BC. The company maintains a website at: 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.