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Century Global Updates the Market about Its Food Division in Response to Strong Market Interest and Enquiries

News provided by newsfile2026-07-13

Hong Kong, Hong Kong--(Newsfile Corp. - July 13, 2026) - Century Global Commodities Corporation (TSX: CNT) (the "Company" or "Century Global") is pleased to provide a comprehensive market update about its food division, ("Century Food").

This news release follows significant investor and shareholder interest in the food division after the recent announcement of the Company's full-year results ended March 31, 2026, driving substantial increases to the Company's share trading in the markets last week.

While Century Global remains steadfast in its commitment with a dedicated mining team to unlocking substantial inherent values in our Canadian iron ore portfolio and particularly the most advanced of our iron ore projects; Joyce Lake, Full Moon, and Duncan Lake. These properties have reported development potential, in aggregate, of approximately $5 billion total Net Present Value based on current and historical technical reports prepared in accordance with NI 43-101 published on the Company's website and SEDAR+. We believe the market is only now beginning to recognize the significant tangible value generated by our food business, designed to be counter-cyclic to our iron ore business. Today, we are highlighting a decade of success in the food business that has built a resilient, profitable, and cash-generating asset right in the heart of Asia's most affluent consumer market. Readers are referred to our annual management discussion and analysis for the year ended March 31, 2026 for a full discussion of our results of operations, including the results of our food division which is presented as a distinct operating segment within our business.

A Decade of Vision: From a Counter-Cyclical Bet to a Successful Market Player
Founded in 2015, at a low point in the iron ore cycle, the Century Food division was established with a clear vision: to create a stable revenue stream to support advancement of Century Global's iron ore projects, and to minimize shareholder dilution. We are proud to report that this strategy has not only succeeded but has exceeded expectations.

In just ten years, Century Food has evolved from a single employee startup to a strong player in Hong Kong's premium food distribution sector, generating divisional annual sales close to $13.79 million, a robust 25.2% gross profit margin and a net segment profit of $464,693 before tax for the fiscal year ended March 31, 2026. Readers are referred to Note 7 to our audited financial statements for the years ended March 31, 2026 and 2025 for a presentation of the segmented financial information for our food division.

The following chart shows the trend of sales, gross and net segment profits before tax by quarter since the inception of Century Food.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12276/304917_a8e257ce9430bba3_002full.jpg

Capitalizing on the "Greater Bay Area" Mega-Trend
Century Food's success is rooted in its strategic positioning. Hong Kong is not just a city; it is the gateway to the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) - an economic powerhouse with a combined GDP of ~US$2.1 trillion (matching Canada's, as a G7 country) and with a population of 88 million, more than double that of Canada.

Hong Kong is the key financial hub in Asia bridging China and the rest of the globe and the location where the most IPO funding of approaching US$ 30 billion was raised in the first half of 2026, second highest in the world. According to the Boston Consulting Group (BCG) Global Wealth Report 2026, Hong Kong has officially overtaken Switzerland to become the world's largest cross-border wealth hub, managing US$2.95 trillion in assets. Supporting the capital market is a financial supply chain talent pool commensurate with this world class capital market, together with global league companies. These professionals and supporting personnel represent one of the growing segments of the Hong Kong population that demands high quality food beyond what the city can normally offer.

Century Food recognized that Hong Kong's and the GBA's discerning, high-income consumers were underserved by traditional distributors who focused on price. Century Food adopted a premium brand-management approach, securing near-exclusive distribution rights for globally renowned, high-quality producers.

By focusing on value over volume and minimal price, we have preserved brand equity for our suppliers while delivering unparalleled quality to our blue-chip clientele, including international airlines and caterers, the largest supermarket chains in Hong Kong, a rapid growing local gourmet chain store, and a Macau distribution that serves Casino hotels etc., all supported by top-tier international cold-chain logistics.

The "Century Food Advantage": Strong Balance Sheet and Zero Debt
Unlike many growth-stage companies, Century Food operates with a debt-free balance sheet. Since its inception, the division has required zero external fundraising, relying entirely on internal Group resources, suppliers' credits and retained profits. This discipline results in a strong net working capital position and demonstrates management's commitment to prudent financial governance.

Employee Excellence and Strategic Plan
Our Century Food Hong Kong team of over 20 dedicated professionals, separated from our mining team, is the backbone of our success. With an average tenure of about five years in a city known for high turnover, our stable workforce ensures consistent, world-class service to customers.

Our food team and organisational infrastructure currently have capacity to bring onboard additional high-quality brands to diversify offerings, with minimum addition of personnel, while leveraging our established distribution network to capture a larger share of the rapidly growing GBA premium food market with concentration in Hong Kong. This flexible scalability offers a clear pathway for continued organic growth and margin expansion with minimal investments.

A Compelling Investment Proposition
Century Global presents a unique investment opportunity to both classes of investors interested either in mineral development or emerging food business or both:

A high-value portfolio of Canadian iron ore projects with potential for development.
Century Food, a proven performer with a profitable, debt-free, and growing food distribution business providing immediate cash flow and significant intrinsic value.

We believe the recent share price movements reflect the market's growing recognition of this investment opportunity. As we continue to advance both our mining and food divisions, Century Global is uniquely positioned to deliver substantial long-term shareholder value.

Sandy Chim Century Global CEO said:

"The 10-year growth of our Century Food business validates our investment thesis and demonstrates accretive growth for Century. It has not only served well as a counter-cyclic asset to help fund annual operating costs of our iron ore development business enabling Century Global to advance our projects since 2011 without raising new financings from the market, but it has also actually created a growing food business that has significant value in the market outside of the mining sector that food market investors favour."

He also said:

"As we move forward, we are targeting greater sales diversification and a continued growth which I know our dedicated Century Food team is ready to deliver.

This follows our strategy to bring additional value to our mining shareholders by advancing our iron ore projects supported by an independent non-mining cash and profit generating business of growing value.

At the same time, our strategy is to offer food market investors a successful growing food business with a portfolio of advanced iron ore projects of great potential in a region attracting tremendous investment in a strong commodities cycle.

We are optimistic this gives us the opportunity of broadening our shareholder base and achieving proper market recognition of the full value and potential for Century Global for the benefit of all shareholders.

Upon favourable conditions, the Company will consider the possibility of a spin out to maximize shareholder value".

All of the technical disclosure contained in this press release pursuant to NI 43-101 have been reviewed and approved by the Company' Director of Exploration, Allan (Wenlong) Gan, P. Geo, a Qualified Person as defined by NI 43-101.

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ABOUT CENTURY GLOBAL

Century Global is a TSX-listed company focused on creating shareholder value through the strategic development of its high-grade iron ore assets in Canada and its profitable food distribution operations in Hong Kong. With a combined portfolio value and operational cash flow, Century Global offers a diversified approach to resource and consumer market investment.

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 OWNERSHIP AND PLANS FOR SPIN-OUT, LISTING, FINANCING AND DEVELOPMENT OF THE JOYCE LAKE DSO IRON ORE PROJECT, INCLUDING (I) ESTIMATES AS TO RESOURCES AND RESERVES FOR THE PROJECT, (II) ESTIMATES AS TO THE CAPITAL COSTS, OPERATING COSTS, PRODUCTION RATES, MINE LIFE, NET PRESENT VALUE AND RATES OF RETURN FOR THE PROJECT, (III) PROJECTIONS AS TO THE TIME FRAME FOR THE ADDITIONAL WORK REQUIRED TO COMPLY WITH THE PROVINCIAL ENVIRONMENTAL IMPACT ASSESSMENT GUIDELINES; (IV) THE ABILITY OF JDI TO CONCLUDE BENEFIT AGREEMENTS WITH FIRST NATIONS AND THE GOVERNMENT OF NEWFOUNDLAND AND LABRADOR; (V) THE TIMELINE FOR COMPLETION OF THE ENVIRONMENTAL IMPACT STATEMENT PROCESS BY JDI; (VI) THE ABILITY OF JDI TO MEET ALL FEDERAL AND PROVINCIAL ENVIRONMENTAL IMPACT STATEMENT REQUIREMENTS AND TO ULTIMATELY SECURE THE REQUIRED ENVIRONMENTAL PERMITTING; AND (VII) THE ABILITY OF JDI TO LIST ITS COMMON SHARES ON AN EXCHANGE, OF WHICH THERE IS NO ASSURANCE. 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, 2026. INVESTOR SHOULD ALSO REVIEW THE JOYCE LAKE DSO IRON ORE PROJECT FEASIBILITY STUDY IN DETAIL IN ORDER TO FULLY UNDERSTAND THE RISKS AFFECTING THE PROJECT AND THE ESTIMATES INCLUDED IN THE PROJECT. 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.

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

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