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Jewett-Cameron's financial position continues to be strong, and currently has no borrowing against its $5.0 million line of credit. As of May 31, 2010, the Company's cash position was $8.42 million. Subsequent to the end of the period, the Company began a Share Repurchase Plan (the "Plan") as authorized by the Board of Directors. Under the Plan, the Company may purchase for cancellation up to 425,000 common shares. If all the authorized 425,000 shares are repurchased, it would represent 17.8% of the total shares outstanding as of May 31, 2010. The price paid for the shares under the Plan will be the prevailing market price at the time of the purchase up to US$7.00 per share. The Plan commenced on June 1, 2010 and will remain in place until August 17, 2010 but may be limited or terminated at any time. As of July 6, 2010, the Company has repurchased 79,040 shares under this plan.
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