WALL TOWNSHIP, N.J., April 12, 2011 /PRNewswire/ -- Coates International, Ltd. (OTCBB: COTE) Coates International Ltd. (the "Company") is pleased to announce that a delegation of top executives, including the company president of a major Chinese engine and generator manufacturer, will visit the Coates headquarters for the second time. Both companies have already executed letters of intent to merge the companies. The executives will stay for thirty days and visit Almont Energy, Inc. in Alberta, Canada. This will bring us close to consummating the merger.
Management believes this is one of the most significant moves the company will make. This merger will benefit both companies including our shareholders.
- Details of the merger and name of the company cannot be divulged at this time. However, as soon as all documents are fully executed more information will be released.
- Coates International is presently negotiating with financers to acquire $10,000,000 of working capital to ramp up production in the USA.
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.
SOURCE Coates International, Ltd.