$COTE..News..$100,000,000 LICENSING AGREEMENT!! ..
Post# of 98042
Posted On: 06/10/2014 2:34:54 PM
$COTE..News..$100,000,000 LICENSING AGREEMENT!! ..
http://www.otcmarkets.com/stock/COTE/news
Chinese Manufacturing Group Has Agreed on a License Fee of $100,000,000 USD for a Non-Exclusive License for Distribution of the Coates CSRV(R) Engines for All Applications Throughout the Territory of the Western Hemisphere
WALL TOWNSHIP, NJ, Jun 10, 2014 (Marketwired via COMTEX) -- Coates International, Ltd. ("the Company"
(OTCQB: COTE)
The Company has achieved an important milestone in its continuing negotiations with a group of three Chinese companies regarding the purchase of a non-exclusive license to distribute Coates' CSRV(R) engines and generators throughout the Western Hemisphere. Today, the Company received written confirmation that the license fee for this non-exclusive license of $100,000,000 USD has been agreed to by the parties. The Company is in the process of drafting the license agreement and will require an initial deposit on the license from the Chinese Group.
Mr. Coates stated: "We are very pleased with the prospect of entering into a non-exclusive license that will enable commencement of the manufacturing of our products in China where production capacity and experienced large manufacturing companies will be getting our products into the marketplace without the necessity for us to raise a substantial amount of start-up working capital. In addition, should this transaction be consummated, the working capital from the licensing fee will open up new opportunities for Coates International going forward."
If finalized, Coates management will be responsible for assisting with the establishment of production operations in China. The Company estimates a six to nine month start-up period before shipments from China can commence. Coates representatives would be dispatched to China to conduct training, oversee operations, quality control and running and testing of products prior to distribution to our customers.
***MVP***
http://www.otcmarkets.com/stock/COTE/news
Chinese Manufacturing Group Has Agreed on a License Fee of $100,000,000 USD for a Non-Exclusive License for Distribution of the Coates CSRV(R) Engines for All Applications Throughout the Territory of the Western Hemisphere
WALL TOWNSHIP, NJ, Jun 10, 2014 (Marketwired via COMTEX) -- Coates International, Ltd. ("the Company"
(OTCQB: COTE) The Company has achieved an important milestone in its continuing negotiations with a group of three Chinese companies regarding the purchase of a non-exclusive license to distribute Coates' CSRV(R) engines and generators throughout the Western Hemisphere. Today, the Company received written confirmation that the license fee for this non-exclusive license of $100,000,000 USD has been agreed to by the parties. The Company is in the process of drafting the license agreement and will require an initial deposit on the license from the Chinese Group.
Mr. Coates stated: "We are very pleased with the prospect of entering into a non-exclusive license that will enable commencement of the manufacturing of our products in China where production capacity and experienced large manufacturing companies will be getting our products into the marketplace without the necessity for us to raise a substantial amount of start-up working capital. In addition, should this transaction be consummated, the working capital from the licensing fee will open up new opportunities for Coates International going forward."
If finalized, Coates management will be responsible for assisting with the establishment of production operations in China. The Company estimates a six to nine month start-up period before shipments from China can commence. Coates representatives would be dispatched to China to conduct training, oversee operations, quality control and running and testing of products prior to distribution to our customers.
***MVP***
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