Furthermore, JBI will provide a major update on its Plastic2Oil business unit and positive progress prior to Christmas.
JBI, Inc. Will Become Debt-Free on December 29, 2009
NIAGARA FALLS, Ontario, Dec. 18, 2009 (GLOBE NEWSWIRE) -- JBI, Inc. (the "Company") (OTCBB:JBII) is pleased to report that all corporate debt, including accrued interest, will be paid in full effective December 29, 2009. The Company's debt-free status will then result in a monthly savings of over $26,000 in interest payments. The debt will be paid off without dilution to the Company's shareholders.
Furthermore, JBI will provide a major update on its Plastic2Oil business unit and positive progress prior to Christmas.
John Bordynuik, CEO/President, stated, "We are very optimistic and excited about our growth potential in 2010. All of our divisions, particularly P2O, are now positioned for rapid revenue growth, and the elimination of all interest payments will augment net earnings expansion."
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globenewswire.com |
