Form 8-K - Current report

 

 

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 17, 2024

JEWETT-CAMERON TRADING COMPANY LTD.
(Exact name of registrant as specified in its charter)

A1BRITISH COLUMBIA	000-19954	00-0000000
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No.)

 

32275 N.W. Hillcrest, North Plains, OR 97133
(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code [phone]

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class		Trading symbol(s)		Name of each exchange on which registered
Common Stock, no par value		JCTCF		NASDAQ Capital Market

  

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

 

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

Item 8.01 Other Events

 

Jewett-Cameron has added three new supply partners for its products under the implementation of its new multi-source, multi-country, strategic sourcing plan. Previously, the Company was tied to one specific supply source as a significant portion of its products were supplied by a single manufacturer in China. The Company now has highly diversified supply sources from manufacturers located in Canada, Bangladesh, Vietnam, Malaysia, Taiwan, and China. The new supply agreements cover Jewett-Cameron’s fence products, dog containment products, and its MyEcoWorld® products.

  

Item 9.01 Exhibits

 

Exhibit No.		Description
99.1		Jewett-Cameron News Release dated September 17, 2024
104		Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)

 

 

 

 

 

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Current Report to be signed on its behalf by the undersigned hereunto duly authorized.

				JEWETT-CAMERON TRADING COMPANY LTD.
Date: September 19, 2024				By:		/s/ “Chad Summers”
				Name:		Chad Summers
				Title:		President and Chief Executive Officer

 

 

 

Exhibit 99.1

 

 

Jewett-Cameron Adds Three New Supply Partners for its Products

 

New suppliers added as part of a multi-year strategic plan to expand and diversify the Company’s product sourcing and maintain competitiveness

 

NORTH PLAINS, Ore. / September 17, 2024 / Jewett-Cameron Trading Company Ltd. (“Jewett-Cameron”) (Nasdaq: JCTCF), a company committed to innovative products that enrich outdoor spaces, today announced it has completed a significant step forward in its strategic plan to expand and diversify the Company’s supply sourcing from three new supply partners.

 

Historically, Jewett-Cameron had a significant portion of their products supplied by a single manufacturer in China. With the implementation of the new multi-source, multi-country, strategic sourcing plan, the Company is no longer tied to one specific supply source for any single product or component. The Company now has highly diversified supply sources from manufacturers located in Canada, Bangladesh, Vietnam, Malaysia, Taiwan, and China. The new supply agreements cover Jewett-Cameron’s fence products, dog containment products, as well as MyEcoWorld® products.

 

“When I took over as CEO, we did an expansive review of each of our product lines and recognized the need to expand our supply relationships to ensure we were not dependent on any one supplier or country where we could be exposed to import tariffs and other risks associated with a single source of supply. Over the last 18 months, we have embarked on an extensive worldwide search to find supply partnerships that could meet the specifications our customers demand and at pricing that allowed us to remain competitive in the market. We entered into three new agreements that cover all current product lines and deliveries are already enroute to our Oregon-based distribution center and directly to customers,” commented Chad Summers, CEO of Jewett-Cameron.

 

“Due to the implementation of tariffs placed on various steel products coming into the U.S. from China, we have been subject to higher cost of goods on a number of our products over the past couple of years,” Summers added. “We expect our new sourcing strategy to help us to maintain competitive pricing and protect our margins going forward.”

 

“We continue to honor Jewett-Cameron’s roots of developing high-quality, innovative products that enrich outdoor spaces while driving efficiencies across our operations. I am pleased with the team’s implementation of this critical component to our strategic go forward strategy and look forward to the benefits it will drive to our customers and shareholders in the years to come,” Summers concluded.

 

About Jewett-Cameron Trading Company Ltd. (JCTCF)

 

Jewett-Cameron Trading Company is a holding company that, through its subsidiaries, operates out of facilities located in North Plains, Oregon. Jewett-Cameron Company's business consists of the manufacturing and distribution of patented and patent pending specialty metal and sustainable bag products, and wholesale distribution of wood products. The Company's brands include Lucky Dog^®, for pet products; Adjust-A-Gate™, Fit-Right^®, Perimeter Patrol^®, Infinity Euro Fence, and Lifetime Post™ for gates and fencing; MyEcoWorld^® for sustainable bag products; and Early Start, Spring Gardner™, Greenline®, and Weatherguard for greenhouses. Additional information about the Company and its products can be found on the Company's website at www.jewettcameron.com.

 

Forward-looking Statements

 

The information in this release contains certain forward-looking statements that anticipate future trends and events. These statements are based on certain assumptions that may prove to be erroneous and are subject to certain risks, including but not limited to, the uncertainties of the Company's new product introductions, the risks of increased competition and technological change in the Company's industry, customer concentration risk, supply chain delays, governmental and regulatory risks, and other factors described in greater detail in the Company's filings with the Securities and Exchange Commission. We may not actually achieve the goals or plans described in our forward-looking statements, and investors should not place undue reliance on these statements. Forward-looking statements made in this press release are made only as of the date hereof, and we disclaim any intent or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release, except as may be required by law.

 

Company Contact:

Chad Summers, Chief Executive Officer

Jewett-Cameron
Phone: [phone]

 

 

Cover	Sep. 17, 2024
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Sep. 17, 2024
Entity File Number	000-19954
Entity Registrant Name	JEWETT-CAMERON TRADING COMPANY LTD.
Entity Central Index Key	0000885307
Entity Tax Identification Number	00-0000000
Entity Incorporation, State or Country Code	A1
Entity Address, Address Line One	32275 N.W. Hillcrest
Entity Address, City or Town	North Plains
Entity Address, State or Province	OR
Entity Address, Postal Zip Code	97133
City Area Code	503
Local Phone Number	647-0110
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, no par value
Trading Symbol	JCTCF
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false

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