Century Announces Filing of Second Quarter Financial Results and Management Discussion and
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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 Second Quarter Financial Results and Management Discussion and
Analysis for Six Months Ended September 30, 2022
Hong Kong , November 11, 202 2 – Century Global Commodities Corporation (“Century” or the
“Company”) (TSX: CNT) is pleased to announce that it has filed its condensed consolidated interim
financial statements for the second fiscal quarter ended September 30, 2022 and the related management
discussion and analysis (“MD&A”). Copies of these documents are available under Century’s SEDAR profile
at www.sedar.com and will also be posted on Century’s website at www.centuryglobal.ca.
As of September 30, 2022, the Company had strong net working capital* of $9.9 million, consisting of
cash, bank deposits and marketable securities totaling $ 7.4 million, together with accounts receivables
and other current assets of $5.0 million, less accounts payable and other current liabilities of $2.5 million.
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 DSO Iron Ore Project
Joyce Lake, our most advanced project, is a DSO 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
* This is a non-IFRS financial measure. Refer to the Company’s MD&A for more information.
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assessment. Joyce Lake is held in a sp ecial purpose vehicle, Joyce Direct Iron Inc., to be spun out to be a
separate listed company.
Century Food
Century Food is a subsidiary operation of the Company which started a few years ago and is a value-adding
marketing and distribution business of qu ality food products sourced from such regions as Europe and
Australia and sold in the Hong Kong and Macau markets.
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 r elease is
provided in the section “Non -IFRS and Other Financial Measures” of the Company’s MD&A for the six
months ended September 30, 2022 which is available on SEDAR at www.sedar.com.
Reconciliation to the most directly comparable IFRS measures
September 30
2022
$
March 31
2022
$
Net working capital
Current assets 12,391,645 13,807,006
Current liabilities 2,478,642 2,476,724
9,913,003 11,330,282
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 THE SPIN -0UT, INCLUDING LISTING, FINANCING AND
DEVELOPMENT OF THE JOYCE LAKE DSO IRON ORE PROJECT (THE “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
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IMPACT ASSESSMENT (“EIS”) GUIDELINES; (IV) THE ABILITY OF JOYCE DIRECT IRON INC. (“JDI”) TO CONCLUDE BENEFIT
AGREEMENTS WITH FIRST NATIONS AND THE GOVERNMENT OF NEWFOUNDLAND AND LABRADOR; (V) THE TIMELINE
FOR COMPLETION OF THE EIS PROCESS BY JDI; (VI) THE ABILITY OF JDI TO MEET ALL FEDERAL AND PROVISIONAL EIS
REQUIREMENTS AND TO ULTIMATELY SECURE THE REQUIRED ENVIRONMENTAL PERMITTING; AND (VII) THE ABILITY
OF JDI TO LIST ITS COMMON SHARES ON THE NEO AEQUITAS STOCK 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, 2022. INVESTOR SHOULD ALSO REVIEW THE FEASIBILITY STUDY OF THE PROJECT IN DETAIL UPON
ITS PUBLICATION IN ORDER TO FULLY UNDERSTAND THE RISKS AFFECTING THE PROJECT AND THE ESTIMATES
INCLUDED IN THE PROJECT. RE ADERS 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.