Century Global Announces Completion of Second Tranche of Century Metals Special Warrant Private Placement
Century Global Announces Completion of Second Tranche of Century Metals
Special Warrant Private Placement
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES
TORONTO, Sept. 07, 2018 -- Century Global Commodities Corporation (“Century” or the “Company”) today provided the
following update relating to Company’s planned spin-out of its subsidiary, Century Metals Inc. (“Century Metals”), as
disclosed in the Company’s news release dated June 20, 2018.
Century Metals has completed the second tranche of its private placement of special warrants (the “ Special Warrants ”) at a
price of $0.06 per Special Warrant (the “Special Warrant Private Placement ”). The second tranche involved the issuance of
an additional 1,263,000 Special Warrants for gross proceeds of approximately $75,780. In total, Century Metals has now
issued a total of 5,795,000 Special Warrants for aggregate proceeds of $347,700. In addition, Century subscribed for
5,833,333 common shares of Century Metals at $0.06 per share for total cash proceeds to Century Metals of $350,000.
Each Special Warrant will be convertible into common shares of Century Metals on a one-for-one basis upon the earliest of (i)
effectiveness of a prospectus qualifying the distribution of the common shares issuable upon conversion of the Special
Warrants, and (ii) six months from the date of issuance of the Special Warrants. No broker or finder fees were paid on this
private placement exercise.
For additional information regarding Century Metals and the Special Warrant Private Placement, please refer to the Company’s
news releases dated June 20, 2018 and July 13, 2018.
About Century
Century Global Commodities Corporation (TSX:CNT), having established itself as one of the world’s largest iron ore resource
owners and developers over the course of the last decade, is diversifying into non-ferrous opportunities while awaiting a full
recovery of the iron sector. Capitalizing on its business network and relationships in the China market, it started a quality food
business there a few years ago, as an auxiliary unit that would create value for our shareholders during the global mining down
cycle and has successfully established it as a new growing business segment reporting many quarters of solid revenue
growth.
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 ore project in Newfoundland and Labrador, is the company’s most advanced project. It has completed
feasibility and permitting studies and can be brought to production within approximately 30 months. Century is maintaining its
properties ready for a return to sustained higher iron ore prices.
Non-ferrous Metals
Century is monitoring Investment and acquisition opportunities in the non-ferrous metals sector. When the right opportunity
presents itself, our strong balance sheet will allow us to acquire cost effective assets.
Quality Food
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 throughout China.
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 PLANNED SPIN-OUT OF CENTURY METALS AND THE PROCEEDS
TO BE RAISED UNDER THE SPECIAL WARRANT PRIVATE PLACEMENT. 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, 2018. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARDLOOKING 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.