Century Announces Filing of Year-End Financial Results, Management Discussion and Analysis and Annual Information Form
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 YEAR-END FINANCIAL RESULTS,
MANAGEMENT DISCUSSION AND ANALYSIS AND ANNUAL INFORMATION FORM
Toronto, Canada, June 28, 2018 – Century Global Commodities Corporation (“Century” or the “Company”)
is pleased to announce that it has filed its audited consolidated financial statements for the year ended March
31, 2018 and the related management discussion and analysis (“MD&A”) as well as the Annual Information
Form (“AIF”). Copies of these documents may be obtained under Century’s SEDAR profile at www.sedar.com
and will be posted on Century’s website at www.centuryglobal.ca.
As at March 31, 2018 the Company reported substantial working capital of C$23.6 million, comprised of cash,
bank deposits and an investment portfolio of C$12.9 million (not tied to any funding commitment for any
project development), accounts receivables and other current assets of C$12.3 million, and accounts payable
of C$1.6 million.
In the fiscal year 2017-18, monthly average iron ore prices ranged from US$69.97/t (TSI) in April 2017 to
US$69.70/t in March 2018. Though monthly price averages appear flat over the 12 -month period , the y
actually fluctuated significantly, hitting highs of about US$80/t and lows of about US$60/t. After coming off a
recent spot price peak approaching US$80/t in mid-January 2018, iron ore has been trading around US$65/t
during most of June 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, prioritize
and test exploration targets.
As announced on June 20, 2018, the Company is planning a 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”) . The Spin -out Transaction is expected to be
completed during the second quarter of Century’s 2018 -9 fiscal year and will be subject to approval of the
listing of Century Metals’ common shares on the TSX Venture Exchange.
During the year, Century’s professional food marketing team in Hong Kong continued to expand our
quality food marketing and distribution network in both Hong Kong and Macau over a range of accounts
with major supermarket chains, hotels, restaurants and major international airline food service
providers.
On the food supply side, we continued to grow our base by introducing new Australian and European
meat brands to the local markets, thereby increasing supermarket shelf space for our expanding product
range.
In parallel with the development of the Hong Kong food distribution business and with a successful local
partner, we are now operating two small pilot restaurant stores in Wuhan (population of over 10 million)
and in Chongqing (population of over 30 million). As expected, administrative expenses during the initial
start-up years were higher, as we were setting up operational infrastructure and our team was going through
the necessary learning curve. Our successful and growing Hong Kong-based food operation is delivering a 26%
gross margin contribution on sales revenues, as we establish ourselves in China.
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
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
Sales (C$) 87,165 131,255 349,217 419,321 525,631 649,433 720,488 841,660 1,152,01
-
200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000C$
Sales Trend, Food Business
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
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 no w 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
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
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 E VALUATE PROSPECTIVE TRANSACTIONS ARISING FROM THE REVIEW BY C ENTURY OF ITS
STRATEGIC OPTIONS AND ITS AVAILABLE WORK ING 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
RISKS, UNCERTAINTIES, CONTINGENCIES AND OTHER FACTORS THAT M AY CAUSE ACTUAL RESU LTS AND EVENTS TO BE
MATERIALLY DIFFERENT FROM THOSE EXPR ESSED OR IMPLIED BY THE FORWARD -LOOKING INFORMATION. THE RISKS,
UNCERTAINTIES, CONTI NGENCIES AND OTHER F ACTORS THAT MAY CAUS E ACTUAL RESULTS TO DIFFER MATERIALLY
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 ANNUAL 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 INFORM ATION 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.