|By Marketwired .||
|September 26, 2013 03:42 PM EDT||
WALL TOWNSHIP, NJ -- (Marketwired) -- 09/26/13 -- Coates International, Ltd. ("the Company") (OTCQB: COTE) -- Business executives from UAE are to visit the Coates Plant and headquarters on Monday, September 30, 2013 where natural gas industrial electric power generators will be demonstrated operating under full load. These CSRV power units are designed to operate on flare off gas and other fuels. The Company has already received orders from the UAE including Riyadh, Saudi Arabia, Khalda Amman, Jordan, Palestine, Germany, USA and Canada. However, the Company cannot accept deposits and sign delivery dates until production of these products have commenced here in the USA.
- The Company is in the process of a $20,000,000 preferred private stock offering that carries a 5% interest including stock options for investors. Only accredited investors will be accepted in this deal.
- These funds will be utilized to start production here in New Jersey of the industrial CSRV natural gas electric power generators for our oil and gas industry customers.
- Management Comments, "Our customers are arriving on our doorstep. It is time for us to start producing these natural CSRV industrial generators and fulfill these orders ASAP. Orders do not mean a thing unless we can deliver our products."
- Chinese business financiers are to visit the company within the next 30 days.
- Good progress is being made with the hydrogen H2 project here at the Coates plant. More information on the H2 project will be forthcoming soon.
There can be no assurance that the Company will successful in any of the above 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.