Century Announces Filing of First Quarter Financial Results, Management Discussion and Analysis
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN
THE UNITED STATES OR TO U.S. NEWS AGENCIES
For Immediate Release TSX: CNT
CENTURY ANNOUNCES FILING OF FIRST QUARTER FINANCIAL RESULTS,
MANAGEMENT DISCUSSION AND ANALYSIS
Toronto, Canada, August 13, 2018 – Century Global Commodities Corporation (“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, 2018 and the related management discussion and analysis (“MD&A”). Copies of
these documents are av ailable under Century’s SEDAR profile at www.sedar.com and will be posted on
Century’s website at www.centuryglobal.ca.
As at June 30, 2018 the Company reported substantial working capital of C$22.7million, comprised of cash,
bank deposits and an investment portfolio of C$11.9 million (not tied to any funding commitment for any
project development), accounts receivables and other current assets of C$12.6 million, and accounts payable
of C$1.8 million.
In the first quarter of fiscal year 2018 -2019, monthly average iron ore prices ranged from US$63/t (TSI) in
April 2018 to US$68/t in May 2018. Iron ore has been trading around US$64/t during most of July 2018. We
believe it is prudent to continue our market observer position, while maintaining a small, lean mining team
ready to advance our iron ore projects rapidly when the market recovers adequately.
In the fall of 2017, we began exploration work on a group of promising polymetallic claims held by our 100%-
owned subsidiary, Century Metals Inc. (“Century Metals”). During the financial year we executed a geological
reconnaissance prospecting program on these claims with a primary focus on gold. The program confirmed
that the properties had sufficient merit to justify additional exploration expenditures to identify, pr ioritize
and test exploration targets.
As announced on June 20, 2018, the Company announced the planning of spin-out transaction (the “Spin-out
Transaction”) whereby a portion of the shares of its wholly owned subsidiary, Century Metals, will be
distributed pro-rata to shareholders of Century, by way of a dividend -in-kind. The Spin -out Transaction is
expected to be completed during second quarter of Century’s 2018 -2019 fiscal year. Subsequently, on July
13, 2018 the company announced that Century Metals has completed its first tranche of Special Warrants
Private Placement, by issuing 4,53 1,999 special warrants certificates with total proceeds of $271,920. The
Company Spin-out Transaction is expected to be completed during the second quarter of Century’s 2018 -
2019 fiscal year and will be subject to approval of the listing of Century Metals ’ common shares on the TSX
Venture Exchange.
During the quarter, Hong Kong food distribution business achieved strong, rapid growth by bringing in major
brands from Europe and Australia, broadening product range and increasing retail shelf space. While the Hong
Kong distribution business constitutes most of the sales revenue, our pilot restaurants in Wuhan and
Chongqing, China, have begun making steady progress. This was another record-breaking quarter for the food
segment, delivering more than $1.3 million in sales
About Century
Century Global Commodities Corporation (TSX:CNT) is building shareholder value through existing and
entrepreneurial business units that meet continuing and growing demand from China, the largest market in
human history.
Iron Ore
With Baowu and Minmetals, both Global Fortune 500 companies, as Chinese strategic partners, Century owns
one of the largest iron ore mineral resource bases in the world , across five projects in Quebec and
Newfoundland and Labrador. Joyce Lake, a direct shipping iron ore (“DSO”) project in Newfoundland and
Labrador, is our most advanced project. It has completed feasibility and permitting studies and can be brought
to production within approximately 30 months. We are maintaining our properties ready for advancement
after a return to sustained higher iron ore prices.
Base and Precious Metals Investment
Century is monitoring investment and acquisition opportunities in the base and precious metals sector. When
the right opportunity presents itself, our strong balance sheet will allow us to invest or acquire cost-effective
Jan-Mar
2016
Apr-Jun
2016
Jul-Sep
2016
Oct-Dec
2016
Jan-Mar
2017
Apr-Jun
2017
Jul-Sep
2017
Oct-Dec
2017
Jan-Mar
2018
Apr-Jun
2018
Sales (C$) 87,165 131,255 349,217 419,321 525,631 649,433 720,488 841,660 1,152,019 1,315,320
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200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
C$
Sales Trend, Food Business
assets during the low base and precious metal price cycle , positioning ourselves for gains when the market
improves.
Quality Food Services
Quality food products sourced from advanced countries are in great demand from the quickly-growing middle
class in China. The emphasis is on the need for safe, high -quality food products. Century has established a
professional marketing team and built a distribution system to serve Hong Kong and eventually all of China.
With a successful local partner, Century is now operating small pilot restaurant stores in Wuhan (with a
population of over 10 million) and in Chongqing (with a population of over 30 million).
For further information please contact:
Sandy Chim, President & CEO
Century Global Commodities Corporation
416-977-3188
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THIS PRESS RELEASE C ONTAINS “FORWARD-LOOKING INFORMATION” WITHIN THE MEANING O F 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, AMO NG OTHER THINGS,
CENTURY’S INTENTION TO EVALUATE PROSPECT IVE TRANSACTIONS ARI SING FROM THE REVIEW BY CENTURY OF ITS
STRATEGIC OPTIONS AND ITS AVAILABLE WORKING CAPITAL. FORWARD-LOOKING INFORMATION IS BASED ON, AMONG
OTHER THINGS, OPINIO NS, ASSUMPTIONS, EST IMATES AND ANALYSES THAT, WHILE CONSIDER ED REASONABLE BY
CENTURY AT THE DATE THE FORWARD-LOOKING INFORMATION IS PROVIDED, ARE INHERENTLY SUBJECT TO SIGNIFICANT
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FROM THOSE EXPRESSED OR IMPLIED BY THE FO RWARD-LOOKING INFORMATION MAY INCLUDE, BUT ARE NOT LIMITED
TO, RISKS GENERALLY ASSOCIATED WITH CENT URY’S BUSINESS, AS D ESCRIBED IN CENTURY’ S AN NUAL INFORMATION
FORM FOR THE YEAR EN DED MARCH 31, 201 8. 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.