Century Global Commodities Corporation
TSX : CNT

Century Global Commodities Corporation

May 13, 2016 08:30 ET

Century Global Announces Change on Its Board of Directors

TORONTO, ONTARIO--(Marketwired - May 13, 2016) -

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

Century Global Commodities Corporation (TSX:CNT) ("Century" or the "Company") announced today that Mr. Wei Ke Peng had resigned from its Board of Directors. Mr. Peng has been a valuable member of Century's Board of Directors as a representative of WISCO International Resources Development & Investment Limited ("WISCO") since 2011.

The Board of Directors has appointed Mr. Jinfa Xiao as a Director of the Company to replace Mr. Peng. Mr. Xiao currently serves as Chief Representative of WISCO Canada Resources Investment Limited ("WISCO Canada"), a Director and General Manager of WISCO (Australia) Resources Ltd, and as Vice General Manager of the WISCO International Resources Development & Investment Ltd. Mr. Xiao is a mining engineer with over 30 years of operational and investment experience in the iron ore industry, within China and globally. Mr. Xiao a graduate of Wuhan University of Science and Technology, with a Masters' degree in mining engineering.

Sandy Chim, President and Chief Executive Officer of Century commented: "Mr. Peng's guidance has been invaluable to the growth and progress of the company in the iron ore business in the past six years. On behalf of the Company, I thank Mr. Peng for his service and wish him well in his future endeavours. We are pleased to welcome Mr. Xiao to our Board and look forward to working closely with him."

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

With WISCO and Minmetals, both Global Fortune 500 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 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 in preparation for a return to higher iron ore prices.

Base and Precious Metals

Century is monitoring investment and acquisition opportunities. When the right opportunity presents itself, our strong balance sheet will allow us to invest or acquire undervalued assets during the current down-cycle, positioning ourselves for gains when the market improves.

Technology and Financial Services

Century's award-winning team has harnessed multidisciplinary expertise to build a proprietary bilingual Chinese/English mining investment evaluation and tracking system. The database tracks daily over 1,500 globally listed mining and mineral resource companies with a primary focus on gold and copper and their 3,000 projects. We are now commercializing the technology for use by retail and institutional investors as well as mining professionals worldwide. Century Mining Database can be accessed via www.centurymining.cn.

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 throughout China. Initial successes include contracts with one of the largest egg producers in Australia and supply contracts with hotels, restaurants, grocery chains as well as an international airline.

Century's website is www.centuryglobal.ca.

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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.

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