Plastic2Oil Inc (PTOI)

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Item 1.01 Entry into a Material Definitive Agreement


On June 7, 2011, JBI, Inc., (the “Company”) consummated a confidential private placement (the “Private Offering”) with certain accredited investors for the issuance and sale of 6,468,979 shares of the Company’s common stock, $0.001 par value per share (the “Common Stock”) at per share price of $0.70 for aggregate offering proceeds of $4,528,285. The offering proceeds will be used by the Company as working capital and to build additional P20 processors. The Private Offering was conducted on a best efforts basis with a minimum investment of $7,000 by the Company’s officers and directors.


http://www.sec.gov/Archives/edgar/data/1381105/000121390011003155/f8k060711_jbi.htm