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[QUOTE]Originally posted by oldseven: [QB] NEW JUST OUT THIS MORNING JBI, Inc. CEO Reduces Outstanding Common Shares by 12 Million NIAGARA FALLS, Ontario, Dec. 8, 2009 (GLOBE NEWSWIRE) -- JBI, Inc. (the "Company") (OTCBB:JBII - News) announces that John Bordynuik, CEO / President, has returned twelve million of his common shares to the Company's treasury and was issued one million non-convertible preferred shares, with 100 to 1 voting rights and no dividend income. The net effect of this transaction is that there will now be 46,725,106 total outstanding common shares and 1,000,000 series A super voting preferred stock outstanding. The Company's shares are available to use for accretive acquisitions and debt pay-off. John Bordynuik commented, "Since June 2009, I have returned 22 million of my common shares to the Company's treasury. I have no interest in selling my personal shares or impeding corporate share growth through unnecessary or potentially damaging dilution. My goal is to build a dynamic global growth company and, in so doing, to maximize share valuation for all loyal shareholders. This is best accomplished by growing our core businesses, making prudent acquisitions, and increasing net earnings per share." [/QB][/QUOTE]
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