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 March 31, 2023 Year End Financial Results,
Management Discussion and Analysis and Annual Information Form
Hong Kong, June 2 8, 2023 – Century Global Commodities Corporation (“Century” or the “ Company”)
(TSX: CNT) is pleased to announce that it has filed its audited consolidated financial statements for the
year ended March 31, 2023 and the related management discussion and analysis (“MD&A”) as well as the
Annual Information Form . Copies of these documents are availabl e under Century’s SEDAR profile at
www.sedar.com and will also be posted on Century’s website at www.centuryglobal.ca.
As of March 31, 2023, the Company had net working capital * of $8.4 million, consisting of cash at bank
and marketable securities totaling $6.5 million, together with accounts receivables, inventories and other
current assets of $5.1 million, less accounts payable and other current liabilities of $3.2 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 properti es 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
undergoing environmental assessment. Joyce Lake is held in a special purpose vehicle, Joyce Direct Iron
Inc. (“JDI”), in which Century owns 91.6%.
* This is a non-IFRS financial measure. Refer to the Company’s MD&A for more information.
Century Food
Century Food is a subsidiary operation of the Company which started a few years ago and is a value-adding
marketing and dis tribution 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 measure s included in this press release is
provided in the section “Non -IFRS and Other Financial Measures” of the Company’s MD&A for the year
ended March 31, 2023 which is available on SEDAR at www.sedar.com.
Reconciliation to the most directly comparable IFRS measures
March 31
2023
$
March 31
2022
$
Net working capital
Current assets 11,560,744 13,807,006
Current liabilities 3,200,618 2,476,724
8,360,126 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, THE COMPLETION OF THE RIGHTS OFFERING
AND USE OF PROCEEDS OF THE RIGHTS OFFERING, CENTURY’S OWNERSHIP AND PLANS FOR S PIN-0UT,
LISTING, FINANCING AND DEVELOPMENT OF THE JOYCE LAKE DSO IRON 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 VALU E 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 GUIDELINES; (IV) THE ABILITY OF
JDI TO CONCLUDE BENEFIT AGREEMENTS WITH FIRST NATIO NS 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 AN 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, CONTIN GENCIES 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, 2023. INVESTOR SHOULD ALSO REVIEW THE JOYCE LAKE DSO IRON ORE PROJECT FEASIBILITY
STUDY IN DETAIL 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.