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 /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 gas industry.
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
SOURCE Coates International, Ltd.
More by this Source
COATES INTERNATIONAL, LTD. AND COATES HI-TECH ENGINES, LTD. SIGN COMMITMENT AGREEMENT LETTERS WITH AN AMERICAN POWER COMPANY TO DO A JOINT VENTURE OF THE WATER TO HYDROGEN H2 PROJECT. THE COATES INDUSTRIAL CSRV ELECTRIC POWER ENGINES GENERATORS WILL
Sep 12, 2013, 07:00 ET
Coates International, Ltd. Renewable Fuel Hydrogen Reactor Has Piqued The Interest Of Many Major Players Around The World And Is In Serious Talks To Design And Manufacture An Environmentally Friendly Home Electric Power Generator. A Combined Coates
Aug 23, 2013, 07:00 ET
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.