Century Announces Results of 2017 Shareholder Meeting
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES
TORONTO, Sept.19, 2017(GLOBE NEWSWIRE) -- Century Global Commodities Corporation ("Century" or the "Company") is pleased to announce the results of the 2017 Annual General Meeting of shareholders that was held on September 19, 2017 in Hong Kong SAR, China.
At that meeting, the shareholders approved the following:
- The re-election of the board of directors (the "Board"); and
- The re-appointment of PricewaterhouseCoopers LLP as the Company's auditor for the upcoming year
Director Elections
Century is pleased to announce that the shareholders accepted management's recommendation and re-elected the Board with the overwhelming support of shareholders. The voting results on the election of directors were as follows:
| Results of Voting on the Election of Directors | ||||||
| Director | FOR | ABSTAINED | ||||
| Sandy Chim | 88,277,003 | 99.973 | % | 23,650 | 0.027 | % |
| Ben Koon (David) Wong | 88,277,003 | 99.973 | % | 23,650 | 0.027 | % |
| Hua Bai | 88,276,832 | 99.973 | % | 23,821 | 0.027 | % |
| Howard Bernier | 88,285,003 | 99.982 | % | 15,650 | 0.018 | % |
| Kit Ying (Karen) Lee | 88,285,003 | 99.982 | % | 15,650 | 0.018 | % |
| Jiong Hui Wang | 88,284,832 | 99.982 | % | 15,821 | 0.018 | % |
| Xin Ting (Tony) Wang | 88,287,003 | 99.985 | % | 13,650 | 0.015 | % |
| Caifa Xu | 88,276,832 | 99.973 | % | 23,821 | 0.027 | % |
* % results rounded.
All candidates served on the Board prior to the meeting.
Auditor Appointment
At the meeting, the shareholders re-appointed PricewaterhouseCoopers LLP as auditor of the Company.
| Results of Voting on Re-appointment of Auditor | |||
| Re-appointment of Auditor | |||
| FOR | 88,290,603 | 99.989 | % |
| ABSTAINED | 10,050 | 0.011 | % |
About Century
Century Global Commodities Corporation (TSX:CNT) isbuilding 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 Baowu 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 investment
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.
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.
Business Development
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 more than 1,500 globally listed mining and mineral resource companies daily, 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.
Century's website is www.centuryglobal.ca.
For further information please contact:
Sandy Chim, President & CEO
Century Global Commodities Corporation
416-977-3188, ext. 109
IR@centuryglobal.ca
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, 2017. 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.