PALM DESERT, Calif., May 15, 2007 (PRIME NEWSWIRE) -- Jason Rite, President and CEO of Nitro Lube, Inc. (Pink Sheets:NLUB) and Nitro Lube Canada, Inc. announced from Nitro Lube USA's office in Palm Desert that Nitro Lube Canada, Inc. has granted Nitro Lube USA, Inc. an exclusive license to manufacture and sell Nitro Lube brand products (including PMF 2000) throughout the United States and Mexico. The licensing agreement also includes all rights, title and claim to the Nitro Lube name, copyrights and trademarks in those countries.
"Our shareholders will be pleased to know that this important step was completed in order to implement the company's marketing plan in the vast market south of Canada. We will soon announce the new management team for Nitro Lube USA and when its new website, www.nitrolubeusa.com, will be open for business," stated Mr. Rite.
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 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.