WALL TOWNSHIP, N.J., Jan. 2, 2013 /PRNewswire/ -- Coates International, Ltd. (NASDAQ OTCBB: COTE) –Coates International, Ltd. is pleased to announce that Mr.
Nick Kontonicolas, a well known international business entrepreneur, is to join the Board of Directors of Coates International, Ltd. and become
C.O.O. He is a personal friend of
George J. Coates for 27 years. He already gave the Company a letter of credit in the amount of $30,000,000 USD and has expressed his intention to bridge finance the start up of limited production of the CSRV industrial natural gas electric power generators for delivery to the oil and gas industry.
Mr. Nick Kontonicolas is in the oil and gas industry and expressed his intentions of utilizing the Coates CSRV natural gas power units in his oil field operations around the world for pumping, compression and to produce electric power from flare off gas that otherwise would be wasted.
Management believes that Mr. Kontonicolas will be a significant asset to the Company. He is in the oil and gas industry and many other industries. He also has many clients and business contacts around the globe. We look forward to his participation in our Company's operations. He will also be awarded shares in the Company.
However, there can be no assurance that our endeavors with Mr. Nick Kontonicolas will be successful in concluding any business deals.
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.
Investor Relations Contact:Equiti-trend Advisors, LLCPhone: 800-953-3350E-Mail: email@example.comTHE COATES OFFICIAL NEWS WEBSITE www.coatesengine.com | www.mostadvancedengine.com
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV