Management Discussion and Analysis and Annual Information Form
Century Announces Filing of March 31, 2025 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
HONG KONG, June 25, 2025 -- 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, 2025 and the
related management discussion and analysis (“ MD&A”) as well as the Annual Information Form. Copies of these documents
are available under Century’s SEDAR+ profile at http://www.sedarplus.ca and will also be posted on Century’s website at
www.centuryglobal.ca.
Highlights of operating results:
For the year ended March 31, 2025, the Company:
• Closed a total of A$500,000 private placement financing, by its subsidiary Joyce Direct Iron Inc. (“JDI”), at an A$25
million valuation to prepare for a spinout.
• Achieved record sales of $13.30 million. Century Food generated gross segmental profit of $3.37 million and net
segmental profit of $0.42 million.
As of March 31, 2025, the Company had net working capital * of $6.0 million, consisting of unrestricted free cash, bank
deposits and marketable securities totaling $4.2 million, together with accounts receivables, inventories and other current
assets of $5.1 million, less accounts payable and other current liabilities of $3.3 million.
______________________
* This is a non-IFRS financial measure. Refer to the Company’s MD&A for more information.
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 undergoing environmental assessment. Joyce Lake is held
in a special purpose vehicle, Joyce Direct Iron Inc. (“JDI”), in which Century owns 89.8%.
Century Food
Century Food is a subsidiary of the Company operating a value-adding marketing and distribution business of quality food
products sourced from such high-quality regions as Europe and Australia for the Hong Kong and Macau markets. It was
created as a counter-cyclical business at the bottom of the Super Cycle in 2015 to generate profit and cash to supplement the
metals business.
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 year ended
March 31, 2025 which is available on SEDAR+ at http://www.sedarplus.ca.
Reconciliation to the most directly comparable IFRS measures
March 31
2025
$
March 31
2024
$
Net working capital
Current assets 9,313,603 10,080,639
Current liabilities 3,284,412 3,976,896
6,029,191 6,103,743
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 SPIN-OUT,
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 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 GUIDELINES; (IV) THE ABILITY OF JDI TO CONCLUDE
BENEFIT AGREEMENTS WITH FIRST NATIONS AND THE GOVERNMENT OF NEWFOUNDLAND AND LABRADOR; (V)
THE TIMELINE FOR COMPLETION OF THE ENVIRONMENTAL IMPACT STATEMENT PROCESS BY JDI; (VI) THE
ABILITY OF JDI TO MEET ALL FEDERAL AND PROVINCIAL ENVIRONMENTAL IMPACT STATEMENT 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,
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, 2025. 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.