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 /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.

  • Plans 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.
  • The Company plans to put into the deal:
    • Dutchess Capital Line of  Credit                        

$20,000,000

    • Letter of Credit from Swiss Group                           

$30,000,000

    • Company plans to raise an additional                    

$90,000,000

    • Almont Energy licensing fees to be paid to the Company over a period of time                                       

 

$54,000,000

    • Start up funding and incentives from State and City are not known at this time

  • The 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 Coates.
  • The Company will give all provisional and firm orders which equate to approximately just over one billion USD per year.
  • Management is working diligently to complete this deal and get the company into full production as soon as possible.
  • Mr. 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.
  • The 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 successfully concluded.

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
Phone: 800-953-3350
E-Mail: admin1@equititrend.com

THE COATES OFFICIAL NEWS WEBSITE
www.coatesengine.com | www.mostadvancedengine.com

SOURCE Coates International Ltd.



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