Century Announces Filing of Third Quarter Financial Results and Management Discussion and Analysis
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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 Third Quarter Financial Results and Management Discussion and Analysis
for Nine Months Ended December 31, 2022
Hong Kong, February 14, 2023 – 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 third fiscal quarter ended December 31, 2022 and the related management discussion and analysis
(“MD&A”). Copies of these documents are available under Ce ntury’s SEDAR profile at www.sedar.com
and will also be posted on Century’s website at www.centuryglobal.ca.
As of December 31, 2022, the Company had strong net working capital* of $9.4 million, consisting of cash,
bank deposits and marketable securities totaling $ 6.5 million, together with accounts receivables and
other current assets of $5.6 million, less accounts payable and other current liabilities of $2.7 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 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
* This is a non-IFRS financial measure. Refer to the Company’s MD&A for more information.
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undergoing environmental assessment. Joyce Lake is held in a special p urpose vehicle, Joyce Direct Iron
Inc. (“JDI”), in which Century owns 91.6%.
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 quality 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 release is
provided in the section “Non -IFRS and Other Financial Measures” of the Company’s MD&A for the nine
months ended December 31, 2022 which is available on SEDAR at www.sedar.com.
Reconciliation to the most directly comparable IFRS measures
December 31
2022
$
March 31
2022
$
Net working capital
Current assets 12,098,611 13,807,006
Current liabilities 2,736,415 2,476,724
9,362,196 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 IR ON 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
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GUIDELINES; (IV) THE ABILITY OF JDI TO CONCLUDE BENEFIT AGREEMENTS WITH FIRST NATIONS AND THE
GOVERNMENT OF NEWFOUNDLAND AND LABRADOR; (V) THE TIMELIN E 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 PROVI DED, 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, UNCERTAINTIE S, 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 I N CENTURY’S ANNUAL INFORMATION FORM FOR THE YEAR ENDED MARCH 31, 2022. INVESTOR
SHOULD ALSO REVIEW THE FS IN DETAIL UPON ITS PUBLICATION 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.