Century Global Commodities Corporation
TSX : CNT

Century Global Commodities Corporation

December 16, 2015 16:30 ET

Century Announces Results of Special Meeting of Shareholders

TORONTO, ONTARIO--(Marketwired - Dec. 16, 2015) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES

Century Global Commodities Corporation ("Century" or the "Company") (TSX:CNT) is pleased to announce the results of the Special Meeting of shareholders that was held on December 16, 2015 in Toronto.

At the meeting, the shareholders approved a special resolution authorizing the continuation of Century under the laws of Cayman Islands under the Company's revised Memorandum and Articles of Association that were developed in response to certain recommendations from shareholders. As a result, the Company can now proceed with implementing this continuation from British Columbia, where it is governed by the British Columbia Business Corporations Act, to the Cayman Islands, where it would be governed by the Companies Law (2013 Revision) and subject to Memorandum and Articles of Association substantially in the form appended to the Management Information Circular (the "Continuation").

The Continuation complements the Company's current business plan of seeking new business activities and investment opportunities involving commodities other than iron ore in various jurisdictions. As these opportunities could involve an expansion of the Company's activities in scope and geography, the continuation into the Cayman Islands will provide the Company with the flexibility to undertake activities outside Canada by adopting a more internationalized corporate structure.

The results of the voting on the Continuation are as follows:

Matter Votes
For
% of
Votes For
(rounded to the nearest percent)
Votes
Against
% of Votes
Against
Continuation 85,014,571 100% 73,465 0.0009

Sandy Chim, Chairman of the Board, commented:

"Having already completed the Company's name change and now having the approval to complete the Continuation, we are advancing with the Company's bold vision of seeking to capitalize on strategic opportunities in a broader range of areas. Century's name change and continuation are critically important in providing the structure upon which we plan to build on our foundation in Canada to achieve strategic growth in other areas and activities. I am excited about what the future holds."

About Century

Century is an exploration and development company with significant properties in the prolific Labrador Trough in Québec, Newfoundland and Labrador, as well as the James Bay area of Québec. Century has two key strategic partners, WISCO and Minmetals, both Chinese state-owned enterprises. Each provides financial resources and technical expertise to assist the Company in advancing its projects. Century's most advanced project is the Joyce Lake DSO project, a joint venture with WISCO located close to Schefferville, Québec. Century owns 60% in the joint venture and WISCO owns 40%. It is planned as a 2.5 million tonne per annum direct shipping iron ore project. A feasibility study was completed in March 2015. After discovery and identification of multi-billion iron resources in the past few years, the Company is evolving in a diversified strategic direction. In addition to iron ore development, Century is committed to exploring and evaluating global opportunities outside of the iron ore market, such as the non-ferrous sector and the food industry, to create shareholder value through the efficient allocation of capital resources. Century's website is www.centuryglobal.ca.

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 INTENTION TO EVALUATE PROSPECTIVE TRANSACTIONS ARISING FROM THE REVIEW BY CENTURY OF ITS STRATEGIC OPTIONS AND ITS AVAILABLE WORKING CAPITAL. 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, 2015. 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.

Contact Information