Friday, May 21, 2010
JBI, Inc. Completes Private Placement
NIAGARA FALLS, Ontario, May 21, 2010 (GLOBE NEWSWIRE) -- JBI,
Inc. (the "Company") (OTCBB:
JBII) has completed a private placement. A total of 488,779
shares were sold at $4.00 per share allowing the Company to raise a
total of $1,955,116.
JBI CEO John Bordynuik commented, "The money raised in this
placement will allow JBI to run all continuing operations and
support development of our Plastic2Oil rollout."
About JBI, Inc.
JBI, Inc. is a technology company focused on injecting
intelligence into existing products and processes, making them
efficient and profitable. JBI seeks to innovate new solutions
to issues facing today's world, including environmental
concerns. JBI currently has four business lines including
JBI's tape data recovery, JAVACO, PAK-IT LLC and our new
Plastic2Oil business. Information on our company and all of
our products and services can be found at
www.jbiglobal.com.
Forward Looking Statements
This press release contains statements which may constitute
"forward-looking statements" within the meaning of the Securities
Act of 1933 and the Securities Exchange Act of 1934, as amended by
the Private Securities Litigation Reform Act. The Private
Securities Litigation Reform Act of 1995 (PSLRA) implemented
several significant substantive changes affecting certain cases
brought under the federal securities laws, including changes
related to pleading, discovery, liability, class representation and
awards fees as of 1995. Those statements include statements
regarding the intent, belief or current expectations of JBI, Inc.,
and members of its management as well as the assumptions on which
such statements are based. Prospective investors are cautioned that
any such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, and that actual
results may differ materially from those contemplated by such
forward-looking statements. The Company undertakes no obligation to
update or revise forward-looking statements to reflect changed
assumptions, the occurrence of unanticipated events or changes to
future operating results.
CONTACT: JBI, Inc.
Investor Relations
James Parker
+1 (916) 990-3667
jparker@jbiglobal.com