A Change on Its Board of Directors
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES
TORONTO, Nov. 13, 2020 (GLOBE NEWSWIRE) -- Century Global Commodities Corporation (“Century” or the “Company”) announced that Mr. Pengfeng Zhu has resigned from its Board of Directors. Mr. Zhu has been a valuable member of Century’s Board of Directors, since nominated to the Board by WISCO International Resources Development & Investment Limited, a member of the Baosteel Group, who is a strategic partner and major shareholder of the Company owning about 23.5% in the Company.
The Board of Directors has appointed Mr. Jianlong Yang as Director of the Company to replace Mr. Zhu on the Board.
Mr. Yang currently serves as a senior investment manager of Baosteel Resources (International) Co., LTD (“Baosteel Resources”). He is an intermediate economist, holds a master’s degree of Geophysics from Nanjing University in China. He has worked for Baosteel Resources for 7 years and has extensive experience in mining technology, assets acquisitions, investment management, base-metal trading in the areas in which Baosteel Resources operates.
Sandy Chim, President and Chief Executive Officer of Century commented: “We thank Mr. Zhu for his services to the Company and wish him well in his future endeavors. We welcome Mr. Yang to the Board of Directors.”
About Century
Century Global Commodities Corporation (TSX:CNT) has established a large portfolio of iron ore projects with extensive resources in Canada and has other metals and non-metals operations as follows.
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 iron ore (“DSO”) 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 ready for advancement after a return to sustained higher iron ore prices.
Quality Food Services
Century has established a professional marketing team and built a distribution system of quality food products sourced from advanced countries to serve the Hong Kong market.
For further information please contact:
Sandy Chim, President & CEO
Century Global Commodities Corporation
416-977-3188
IR@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, 2020. 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.
