AFTER THE COMPANY’S EXECUTIVES’ MEETING AT THE PENTAGON ON WEDNESDAY, OCTOBER 15, 2014, ALL TECHNICAL INFORMATION THAT WAS REQUESTED BY THE US DEPARTMENT OF DEFENSE HAS BEEN DELIVERED BY THE COMPANY.
WALL TOWNSHIP, N.J. – Marketwire – October 30, 2014, Coates International, Ltd. (“the Company”) (OTCQB: COTE) – Coates International, Ltd. (the “Company”) the company is pleased to announce that it has supplied all technical information that was requested by The United States Office of the Secretary of Defense.
Coates President and CEO, Mr. George J. Coates, comments:
“• We are only to happy to assist The US Defense Department to utilize the Coates CSRV Engines in any and all applications that The US Armed Forces may require.”
“• The Company has opened talks with a Saudi Arabia entity for the manufacturing, use and sale of the Coates CSRV Industrial Natural Gas Electric Power Generators for the territories of the UAE and North Africa. The Company already received orders from Saudi Arabia and the UAE. This opens new possibilities for the Company to expand its start up of production.”
“• The Chinese Licensing and Manufacturing of the Coates CSRV products in China is forging ahead. The Industrial CSRV Electric Power Natural Gas Generator Set is arriving in China. It will be ten days going through customs. After clearing customs, it will be shipped to Coates Power Inc., Ltd. at 19 Guishal Rd., Changjiang Industrial Park, Xianning City, Hubei Province 437100, China. The CSRV Gen-Set is expected to arrive at the plant around November 20, 2014. Some of the Coates team will be in China prior to its arrival to connect up the Coates CSRV Gen-Set for demonstration etc.”
“• Coates Hi-Tech Engines, Ltd. was established for the manufacturing and production of the Coates CSRV products here in the USA. The Company is planning to raise up to $25,000,000.00 USD. CIL already has an equity line of credit in place of up to $10,000,000.00 USD. These funds will be used to manufacture the Coates CSRV products here in the United States. Coates International, Ltd. is the majority owner of its subsidiary Coates Hi-Tech Engines, Ltd.”
“• Company management is extremely pleased with the progress that the Company is making at this time.”
There can be no assurance that the Company will be successful in any of its endeavors.
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.