Coates International Ltd. Is Selling a Non-Exclusive License to Renown Power Development Ltd., Hong Kong, China for $100,000,000.00 USD for Distribution Rights Throughout the Western Hemisphere
(Clarification for Stockholders)
(firmenpresse) - WALL TOWNSHIP, NJ -- (Marketwired) -- 09/25/14 -- (OTCQB: COTE) Renown Power Development Ltd. is the company that is purchasing the License from Coates International Ltd. for $100,000,000.00 USD with non-exclusive rights to distribute CSRV Products throughout the Western Hemisphere and exclusive rights to manufacture the Coates CSRV Products in China and sub-license other companies in China only. License from the Coates family with distribution rights throughout the Eastern Hemisphere.
The Coates family is acquiring exclusive rights to manufacture all CSRV Products in China and will have the rights to sublicense other companies in China to manufacture other engine applications. The Coates CSRV Green Engine Technology will reduce the production of harmful emissions and help reduce CO2 that causes global warning. The CSRV Engines operate on natural gas, propane, hydrogen and a blend of alternative fuels.
Coates International Ltd. President and Chair, Mr. George J. Coates comments, "This Press Release should clarify this deal with China for our stockholders. The government is involved and I believe Coates Power Inc. Ltd. and Renown Power will utilize the entire industrial complex eventually. Manufacturing all applications of the Coates CSRV Products, Coates International Ltd. will assist the expansion with all applications with technical design engineering in a separate Engineering Agreement. This operation will create literally thousands of permanent quality jobs in China and boost the Chinese economy with its exports of new CSRV products. Existing orders will be given to the Chinese manufacturer to fulfill."
There can be no assurance that the Company will be successful in any of its endeavors.
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.
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Phone: 732-449-7717
Fax: 732-449-0764
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Datum: 25.09.2014 - 10:10 Uhr
Sprache: Deutsch
News-ID 1305352
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