Coates International, Ltd. Is Pleased To Announce That A Well Known
International Business Entrepreneur, Mr. Nick Kontonicolas, Is To Join The
Coates Board of Directors
WALL TOWNSHIP, N.J., Jan. 2, 2013
WALL TOWNSHIP, N.J., Jan.2, 2013 /PRNewswire/ --Coates International, Ltd.
(NASDAQ OTCBB: COTE) –Coates International, Ltd. is pleased to announce that
Mr. Nick Kontonicolas, a well known international business entrepreneur, is to
join the Board of Directors of Coates International, Ltd. and become C.O.O. He
is a personal friend of George J. Coates for 27 years. He already gave the
Company a letter of credit in the amount of $30,000,000 USD and has expressed
his intention to bridge finance the start up of limited production of the CSRV
industrial natural gas electric power generators for delivery to the oil and
Mr. Nick Kontonicolas is in the oil and gas industry and expressed his
intentions of utilizing the Coates CSRV natural gas power units in his oil
field operations around the world for pumping, compression and to produce
electric power from flare off gas that otherwise would be wasted.
Management believes that Mr. Kontonicolas will be a significant asset to the
Company. He is in the oil and gas industry and many other industries. He also
has many clients and business contacts around the globe. We look forward to
his participation in our Company's operations. He will also be awarded shares
in the Company.
However, there can be no assurance that our endeavors with Mr. Nick
Kontonicolas will be successful in concluding any business deals.
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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