Century Announces Filing of First Quarter Financial Results and Management Discussion and Analysis for the Three Months Ended June 30, 2026
Century Announces Filing of First Quarter
Financial Results and Management Discussion
and Analysis for the Three Months Ended June
30, 2026
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS
AGENCIES
Hong Kong, Hong Kong--(Newsfile Corp. - August 10, 2026) -
Century Global Commodities
Corporation
(TSX: CNT) ("
Century
" or the
"Company
") is pleased to announce that it has filed its
condensed consolidated interim financial statements for the first fiscal quarter ended June 30, 2026 and
the related management discussion and analysis ("MD&A"). Copies of these documents are available
under Century's SEDAR+ profile at
http://www.sedarplus.ca
and will also be posted on Century's website
at
www.centuryglobal.ca
.
For the three months ended June 30, 2026, Century Food, our food distribution business segment,
delivered sales of $3.3 million, gross margin* of 27.6%, gross profit of $0.9 million and profit before tax
of $0.1 million, compared to sales of $3.5 million, gross margin* of 27.0%, gross profit of $1.0 million,
and profit before tax of $0.2 million for the same period last year. The free cash and profit generated by
Century Food during the period contributed to sustaining the mining division and corporate overhead,
supplementing the Company fund-raising efforts.
As of June 30, 2026, the Company had unrestricted free cash, bank deposits and marketable securities
totaling $1.6 million (March 31, 2026: $2.4 million) and a net working capital* of $5.0 million (March 31,
2026: $5.0 million), which is adequate to cover near-term ongoing administrative and basic mineral
properties development expenses.
ABOUT CENTURY
Century Global Commodities Corporation (TSX: CNT) is primarily a resource exploration and
development company with a large portfolio of multi-billion tonne iron ore projects in Canada, mostly
discovered by its own exploration team. It has other non-ferrous metals properties under exploration as
well as a well-established food distribution business (Century Food) in Hong Kong.
The Joyce Lake Direct Shipping Iron Ore Project
Joyce Lake, our most advanced project, is an open pit direct shipping iron ore project in Newfoundland
and Labrador, close to the town of Schefferville, Québec which is serviced by a rail link directly to ocean
shipping iron ore ports at Sept-Îles. The Project has completed an updated feasibility study in 2022 and
is undergoing environmental assessment. Joyce Lake is held in a special purpose vehicle, Joyce Direct
Iron Inc. ("JDI"), in which Century owns approximately 90%.
Century Food
Century Food is a subsidiary of the Company operating a value-adding marketing and distribution
business of quality food products sourced from such high-quality regions as Europe and Australia for the
Hong Kong and Macau markets. It was created as a counter-cyclical business at the bottom of the Super
Cycle in 2015 to generate profit and cash to supplement the metals business.
Non-IFRS and Other Financial Measures
Certain financial measures used by the Company to analyze and evaluate its results are non-International
Financial Reporting Standards ("IFRS") financial measures or ratios.
Each of these indicators is not a
standardized financial measure under the IFRS and might not be comparable to similar financial
measures used by other issuers.
These indicators are intended to provide additional information and
should not be considered in isolation or as a substitute for measures of performance prepared in
accordance with IFRS.
Further information on the non-IFRS and other financial measures included in this
press release is provided in the section "Non-IFRS and Other Financial Measures" of the Company's
MD&A for the year ended March 31, 2026 which is available on SEDAR+ at
http://www.sedarplus.ca
.
Reconciliation to the most directly comparable IFRS measures
June 30
2026
$
March 31
2026
$
Net working capital
Current assets
8,172,568
7,916,773
Current liabilities
3,221,570
2,880,050
4,950,998
5,036,723
Three months ended
June 30,
2026
$
2025
$
Gross margin (%)
Gross profit
920,735
958,227
Revenue
3,331,445
3,549,581
27.6%
27.0%
For further information please contact:
Sandy Chim, President & CEO
Century Global Commodities Corporation
416-977-3188
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
THIS PRESS RELEASE CONTAINS "FORWARD-LOOKING INFORMATION" WITHIN THE
MEANING OF CANADIAN SECURITIES LEGISLATION. THE FORWARD-LOOKING
INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS
OF CENTURY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS
SUBJECT TO CHANGE AFTER SUCH DATE. FORWARD-LOOKING INFORMATION INCLUDES
INFORMATION THAT RELATES TO, AMONG OTHER THINGS, CENTURY'S OWNERSHIP AND
PLANS FOR SPIN-OUT, LISTING, FINANCING AND DEVELOPMENT OF THE JOYCE LAKE DSO
IRON ORE PROJECT, INCLUDING (I) ESTIMATES AS TO RESOURCES AND RESERVES FOR
THE PROJECT, (II) ESTIMATES AS TO THE CAPITAL COSTS, OPERATING COSTS,
PRODUCTION RATES, MINE LIFE, NET PRESENT VALUE AND RATES OF RETURN FOR THE
PROJECT, (III) PROJECTIONS AS TO THE TIME FRAME FOR THE ADDITIONAL WORK
REQUIRED TO COMPLY WITH THE PROVINCIAL ENVIRONMENTAL IMPACT ASSESSMENT
GUIDELINES; (IV) THE ABILITY OF JDI TO CONCLUDE BENEFIT AGREEMENTS WITH FIRST
NATIONS AND THE GOVERNMENT OF NEWFOUNDLAND AND LABRADOR; (V) THE TIMELINE
FOR COMPLETION OF THE ENVIRONMENTAL IMPACT STATEMENT PROCESS BY JDI; (VI)
THE ABILITY OF JDI TO MEET ALL FEDERAL AND PROVINCIAL ENVIRONMENTAL IMPACT
STATEMENT REQUIREMENTS AND TO ULTIMATELY SECURE THE REQUIRED
ENVIRONMENTAL PERMITTING; AND (VII) THE ABILITY OF JDI TO LIST ITS COMMON
SHARES ON AN EXCHANGE, OF WHICH THERE IS NO ASSURANCE. FORWARD-LOOKING
INFORMATION IS BASED ON, AMONG OTHER THINGS, OPINIONS, ASSUMPTIONS,
ESTIMATES AND ANALYSES THAT, WHILE CONSIDERED REASONABLE BY CENTURY AT
THE DATE THE FORWARD-LOOKING INFORMATION IS PROVIDED, ARE INHERENTLY
SUBJECT TO SIGNIFICANT RISKS, UNCERTAINTIES, CONTINGENCIES AND OTHER
FACTORS THAT MAY CAUSE ACTUAL RESULTS AND EVENTS TO BE MATERIALLY
DIFFERENT FROM THOSE EXPRESSED OR IMPLIED BY THE FORWARD-LOOKING
INFORMATION. THE RISKS, UNCERTAINTIES, CONTINGENCIES AND OTHER FACTORS
THAT MAY CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE EXPRESSED
OR IMPLIED BY THE FORWARD-LOOKING INFORMATION MAY INCLUDE, BUT ARE NOT
LIMITED TO, RISKS GENERALLY ASSOCIATED WITH CENTURY'S BUSINESS, AS
DESCRIBED IN CENTURY'S ANNUAL INFORMATION FORM FOR THE YEAR ENDED MARCH
31, 2026. INVESTOR SHOULD ALSO REVIEW THE JOYCE LAKE DSO IRON ORE PROJECT
FEASIBILITY STUDY IN DETAIL IN ORDER TO FULLY UNDERSTAND THE RISKS AFFECTING
THE PROJECT AND THE ESTIMATES INCLUDED IN THE PROJECT. READERS SHOULD NOT
PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT
RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE CENTURY MAY ELECT
TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME
EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
*
This is a non-IFRS financial measure. Refer to the Company's MD&A for more information.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/308839