TORONTO, ONTARIO--(Marketwired - Nov. 16, 2015) -
THIS PRESS RELEASE IS NOT FOR DISTRIBUTION THE UNITED STATES OR TO U.S. NEWS AGENCIES
Century Iron Mines Corporation ("Century" or the "Company") (TSX:FER) announced today that it has changed its corporate name to "Century Global Commodities Corporation" (the "New Name"). The change to the New Name was implemented after having obtained a virtually unanimous approval (~100%) of the Company's shareholders at the Annual General and Special Meeting held on September 29, 2015.
The Company will begin trading on the Toronto Stock Exchange ("TSX") under the New Name and new symbol, "CNT" on November 18, 2015. As a result of this change of Century's full corporate name, in the future the Company's filings on SEDAR will be found under the New Name. The Company will also change its website from www.centuryiron.com to www.centuryglobal.ca.
"We are very excited to officially launch our new corporate identity and have businesses henceforth conducted under "Century Global Commodities Corporation". This name is better aligned with our current strategy of seeking new business and investment opportunities other than iron ore in various jurisdictions after we have successfully established substantial iron ore holdings in Canada." said Sandy Chim, President and Chief Executive Officer of Century Global Commodities Corporation.
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 tonne of iron resources in the past few years, the Company evolves into a diversified strategic direction. In addition to the 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.centuryiron.com, and will be moving to 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.