Coates International Ltd. Cancels The Open House For Visits By Stockholders On
November 9 And 10th, 2012 Due To The Storm.
WALL TOWNSHIP, N.J., Nov. 8, 2012
WALL TOWNSHIP, N.J., Nov. 8, 2012 /PRNewswire/ --Coates International, Ltd.
(NASDAQ OTCBB: COTE) –Coates International Ltd. (the "Company") has cancelled
the open house visit for its stockholders until further notice. The decision
to cancel was due to the storm. The Company sustained no serious damage and
the power is back on.
oPlans for setting up manufacturing and production operations are complete.
The location has been decided upon. The Company awaits documents
specifying all of the startup funding and incentives.
oThe Company plans to put into the deal:
oDutchess Capital Line of Credit $20,000,000
oLetter of Credit from Swiss Group $30,000,000
oCompany plans to raise an additional $90,000,000
oAlmont Energy licensing fees to be paid to the Company over
a period of time
oStart up funding and incentives from State and City are not
known at this time
oThe Company will also put into the deal an exclusive production license to
the CSRV natural gas industrial engine generator for the western
hemisphere and other licenses from George Coates and his son Gregory
oThe Company will give all provisional and firm orders which equate to
approximately just over one billion USD per year.
oManagement is working diligently to complete this deal and get the company
into full production as soon as possible.
oMr. James Pang, The Company's exclusive liaison agent to China, is in
Shanghai negotiating with Companies that may be suitable to join forces
with Coates for the manufacturing and production of our CSRV products in
that part of the world.
oThe Company regrets that it simply cannot answer all the emails that it
receives due to the work load.
However, there can be no assurance that any of these deals will be
Safe Harbor Statement:
This press release contains forward-looking statements that are made pursuant
to the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. Please see our filings with the Securities and Exchange Commission.
Our public filings with the SEC may be viewed and printed on the website
maintained by the SEC at http://www.sec.gov.
Investor Relations Contact:
Equiti-trend Advisors, LLC
THE COATES OFFICIAL NEWS WEBSITE
www.coatesengine.com | www.mostadvancedengine.com
SOURCE Coates International Ltd.
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