Century Announces Filing of Third Quarter Financial Results and Management Discussion and Analysis for Nine Months Ended December 31, 2023, Changes of its Board of Directors and its Auditor - Seite 2

Sandy Chim, President and Chief Executive Officer of Century, commented: “We thank Mr. Yang for his services to the Company and wish him well in his future endeavors. We welcome Mr. Zhao to the Board of Directors.”

Change of Auditor

The Company announced that it has changed its auditor from PricewaterhouseCoopers LLP (“Predecessor Auditor”) to Mao & Ying LLP (“Successor Auditor”) effective February 7, 2024.

At the request of the Company, the Predecessor Auditor resigned as the auditor of the Company effective February 7, 2024, and the Board of Directors of the Company appointed the Successor Auditor as the Company’s auditor effective February 7, 2024, until the next Annual General Meeting of the Company.

The Predecessor Auditor has not expressed a modified opinion in its audit reports for the two most recently completed financial years of the Company ended March 31, 2023 and 2022. There have been no audits of the Company’s financial statements for the period subsequent to March 31, 2023 and ending on February 7, 2024. There were no “reportable events” as such term is defined in National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102”) in connection with the audits for the period commencing at the beginning of the Company’s two most recently completed financial years and ending on February 7, 2024.

In accordance with NI 51-102, the notice of change of auditor, together with the required letters from the Predecessor Auditor and the Successor Auditor, have been reviewed by the Board of Directors of the Company and filed on SEDAR+.

ABOUT CENTURY

Century Global Commodities Corporation (TSX:CNT) is primarily a resource exploration and development company with a large portfolio of multi-billion tonne iron ore projects in Canada, mostly discovered by its own exploration team. It has other non-ferrous metals properties under exploration as well as a well-established food distribution business (Century Food) in Hong Kong.

The Joyce Lake Direct Shipping Iron Ore Project

Joyce Lake, our most advanced project, is an open pit direct shipping iron ore project in Newfoundland and Labrador, close to the town of Schefferville, Québec which is serviced by a rail link directly to ocean shipping iron ore ports at Sept-Îles. The Project has completed an updated feasibility study in 2022 and is undergoing environmental assessment. Joyce Lake is held in a special purpose vehicle, Joyce Direct Iron Inc. (“JDI”), in which Century owns 91.6%.