SOURCE: Coates International, Ltd.

October 27, 2016 07:00 ET

A Five Year Business Plan Was Completed for Coates Power Ltd. China and Delivered to Government Officials and the Sixth Largest Chinese Manufacturing Company -- Coates International, Ltd. Has a $100,000,000 USD License Signed and a Good Faith Deposit Received of $500,000 USD With Renown Power Ltd. Hong Kong (Stockholders' Update)

WALL TOWNSHIP, NJ--(Marketwired - Oct 27, 2016) - Coates International, Ltd. (OTC PINK: COTE) (the "Company") is pleased to announce that a five year business plan was completed and delivered to the Chinese local government and the sixth largest manufacturer in China. This group and government officials visited the Coates International, Ltd. headquarters in New Jersey USA some months ago. Proposals are to be presented to the Coates organization for the ramp-up of production of the Coates CSRV products in China.

  • Mr. Nick Kontonicolas is working with Mr. Cotes on the financing for the ramp-up of production by Coates International, Ltd. in the USA.

  • A number of CSRV parts and components have been manufactured in Pennsylvania, USA. Some have already been delivered to the Company.

Company President and CEO, Mr. George J. Coates, comments: "Our CSRV products are ready for mass production. Management is planning the expansion of the assembly plant with a new building on the land that the Company owns attached to its headquarters. The land is being surveyed for the construction of this new assembly plant. More details will be coming out soon.

"The Company cannot divulge the names of the companies that it is dealing with until all contracts and agreements are fully executed."

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.

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