JBII PR and 8-K out... $2 million additional fina

NIAGARA FALLS, NY--(Marketwired - Oct 1, 2013) - JBI, Inc. (the "Company" or "JBI") (OTCQB: JBII), a clean energy company that recycles waste plastic into liquid fuels, today announced the receipt of $2 million in proceeds from the sale of a secured promissory note.

On September 30, 2013, JBI, Inc. entered into a subscription agreement with Mr. Richard Heddle, the Company's Chief Executive Officer and a member of the Company's board of directors, pursuant to which, on September 30, 2013, the Company sold to Mr. Heddle in the second closing of the Company's private placement, a $2 million principal amount 12% secured promissory note, together with a five-year warrant to purchase up to two million shares of the Company's common stock at an exercise price of $0.54 per share. The gross proceeds to the Company were $2 million.

As previously announced by the Company, on August 29, 2013, Mr. Heddle purchased a $1 million promissory note and received a warrant for one million shares of common stock in the first closing of the financing.

JBI's Chief Financial Officer Nicholas Terranova said, "Mr. Heddle's commitment to the company through his actions as CEO and his financing efforts continues to be an effective driving force behind JBI. Our executive team remains steadfast and acutely focused on balancing our increased production momentum with our targeted cost cutting to continue towards our company-wide goal of cash flow positive results."

For further information about JBI, Inc., including its second fiscal quarter 2013 financial results, readers of this press release should review the Company's disclosures in its Quarterly Report on Form 10-Q, which is publicly available on the website of the Securities and Exchange Commission at www.sec.gov .