Coates Power Inc. Ltd. Is Now Duly Established in China
Coates International Ltd. Is Selling a License to the Chinese Entity for $100,000,000.00 USD
(firmenpresse) - WALL TOWNSHIP, NJ -- (Marketwired) -- 09/24/14 -- Coates Power Inc. Ltd. (OTCQB: COTE) is now duly established in China at 19 Guishang Road, Xianning City Economic Development Zone Hubi Province, China, Telephone: 011 86 15800657200. Coates International Ltd. is selling a License to the Chinese Entity for $100,000,000.00 USD. License Agreements have already been delivered to China for review. Coates International Ltd. has received a deposit on the non-exclusive license to the Coates CSRV Engine Technology for distribution throughout the Western Hemisphere.
was established for the sole purpose of manufacturing The Coates CSRV Products in China. Coates International Ltd. USA is granting a non-exclusive license to the patented Coates CSRV Engine Technology for distribution rights throughout the Western Hemisphere for $100,000,000.00 USD (One Hundred Million USD) and has already received deposits on the license. Coates International Ltd. will not be involved in the production operations in China, only as Technical Advisors in a separate Engineering Agreement.
President and CEO Mr. George J. Coates comments: "This is a great deal for our company where we will be paid $100,000,000 USD and the Chinese will manufacture our CSRV Products for distribution worldwide. Coates International Ltd. is not affiliated with Coates Power Inc. Ltd. China only an associate with no liabilities or out lay. We just collect our funds. The non-exclusive distribution rights in the Western Hemisphere. This gives Coates International Ltd. more time to concentrate on its operations in the USA such as: retrofitting heavy trucks, buses and marine applications and produce other CSRV Products here in the USA. License Agreements have been delivered to China for review."
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 .
Coates International, Ltd.
Web:
Phone: 732-449-7717
Fax: 732-449-0764
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Datum: 24.09.2014 - 08:45 Uhr
Sprache: Deutsch
News-ID 1304980
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