SOURCE: Coates International, Ltd.

June 17, 2015 07:00 ET

Coates International, Ltd. Announces Brokerage Industry Is Disseminating False Information About Coates to Their Clients

WALL TOWNSHIP, NJ--(Marketwired - Jun 17, 2015) - Coates International, Ltd. (OTC PINK: COTE) (the "Company") was contacted by one of its shareholders advising company management that her stockbroker erroneously told her that the Company had declared a reverse stock split that would become effective by June 30, 2015. THIS IS NOT TRUE. The Company has not declared any reverse stock splits and has no intention of declaring any reverse stock splits. However, if, and only if, business conditions and other important factors change dramatically; and the board of directors and management of the Company determine that as a result of the changed circumstances, such a reverse stock split would be in the best interests of the Company and its shareholders, then at that time, the Company may consider the possibility of a reverse stock split.

This stockbroker also advised the Company's shareholder not to buy any more shares of the Company's stock because of this false information. This matter is being investigated by the Company. We were informed by the shareholder's stockbroker that this information is provided as a data feed from a business segment of Securian Financial Services, which distributes information on stocks on a large scale basis to numerous stockbrokers around the country.

Management of the Company felt that it is imperative that all Coates stockholders be made aware of the false and damaging information. This false information is likely discouraging prospective investors from buying shares of the Company's stock which could be artificially depressing the price of the stock. Unfortunately, there is no realistic way to determine the extent of any damage to the stock price that might have resulted from this false information.

The Company is diligently pursuing this matter with Securian Financial Services and expects to have this matter resolved as soon as practicable.

There can be no assurance that the Company will be successful in any of its 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.

Contact Information