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Century Announces Results of 2019 Shareholder Meeting

V.RRDP

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

TORONTO, Sept. 20, 2019 (GLOBE NEWSWIRE) -- Century Global Commodities Corporation (“Century” or the “Company”) is pleased to announce the results of the 2019 Annual General Meeting of shareholders that was held on September 19, 2019 in Hong Kong, China.

The Company is pleased to report that, as in prior years, a very high shareholder response was achieved, with 84.026% of Century’s outstanding shares having been voted at the meeting.  At that meeting, the shareholders:

  • set the size of the Board of Directors at eight members;
  • elected the Board of Directors; and
  • re-appointed PricewaterhouseCoopers LLP as the Company’s auditors for the upcoming year.

Number of Directors

The number of directors of the Company for the ensuing year was confirmed as and set at eight (8).  The voting results on this matter are as follows:

Setting the Number of Directors at 8  
FOR82,336,74299.991%
AGAINST 7,1500.009%
ABSTAINED 00%

Election of Directors

Century is pleased to announce that its shareholders accepted management’s nominations for election to the Company’s Board of Directors with overwhelming support. Gloria Wong, who has served as an alternate director for Ben Koon (David) Wong, will serve on the Company’s Board of Directors as a newly elected director until the Company’s next annual meeting of shareholders. All of the other nominees served as directors of the Company prior to the meeting and were re-elected as directors of the Company until the Company’s next annual meeting of shareholders. The voting results on the election of directors are as follows:

 Election of Directors 
Director FOR AGAINST ABSTAINED
Sandy Chim82,116,71199.724%227,1810.276%00%
Gloria Wong82,238,74299.872%105,1500.128%00%
Hua Bai82,114,71199.722%229,1810.278%00%
Howard Bernier82,338,74299.994%5,1500.006%00%
Yiyan Chen82,114,71199.722%229,1810.278%00%
Pengfeng Zhu82,114,71199.722%229,1810.278%00%
Jiong Hui Wang82,236,74299.870%107,1500.130%00%
Kit Ying (Karen) Lee82,236,74299.870%107,1500.130%00%

Re-appointment of Auditors

At the meeting, the Company’s shareholders also re-appointed PricewaterhouseCoopers LLP, Chartered Accountants, as auditors of the Company for the 2019-2020 financial year.  The voting results on this matter are as follows:

Re-appointment of Auditors
FOR82,769,792100.000%*
AGAINST 500.000%*
ABSTAINED 00%

           *  % results rounded to 0.000%.

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 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.

Base and Precious Metals

Century is monitoring investment and acquisition opportunities in the base and precious metals sector. When the right opportunity presents itself, our liquid balance sheet will allow us to invest or acquire cost-effective assets during the low base and precious metal price cycle, positioning ourselves for gains when the market improves. To that end, Century Metals Inc., now listed on TSX-V under the ticker symbol CMET, was created and spun out to provide more flexibility for execution.

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.

For further information please contact:

Sandy Chim, President & CEO
Century Global Commodities Corporation
416-977-3188
IR@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, 2019. 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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