SOURCE: Coates International, Ltd.
WALL TOWNSHIP, NJ--(Marketwired - May 14, 2014) - Coates International, Ltd. ("the Company") (OTCQB: COTE)
The company was notified on Monday, May 12, 2014 that Chinese Executives are to visit the Coates International Headquarters and R&D plant in New Jersey from May 20 through June 10, 2014 to observe the Coates CSRV® engines in operation on various alternative fuels and to discuss the agreements to establish Coates large-scale production operations in Mainland, China. The parties have already executed related preliminary agreements, a letters of intent and a nondisclosure agreement.
Mr. George J. Coates stated: "This transaction continues to move toward our objective of establishing manufacturing operations in China. At the conclusion of this meeting we anticipate that we can move into the final stages of negotiations on this transaction with China. Additional developments on this transaction will be disclosed as they occur."
There can be no assurance that the Company will be 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.