Century Global Commodities Corporation (TSX:CNT) made a binding offer to acquire its remaining stakes in Attikamagen and Sunny Lake Iron Ore Projects from WISCO Canada ADI Resources Development & Investment Limited for CAD 1.2 million on November 2, 2020. Century Global Commodities Corporation (TSX:CNT) signed transfer agreement to acquire remaining stakes in Attikamagen and Sunny Lake Iron Ore Projects from WISCO Canada ADI Resources Development & Investment Limited on November 19, 2020. Century’s management evaluated the transaction and concluded that the value of the consideration to be paid to WISCO ADI, including the cash of CAD 1.17 million, is approximately CAD 2.6 million. The consideration value accounts for the cash to be paid by Century to WISCO ADI and the value of a shareholder loan obligation of WISCO ADI to be assumed by Century with offsets to account for (i) the increase to the consolidated cash to Century resulting from the acquisition of Labec Century, (ii) the offset of the WISCO ADI shareholder loan receivable against the WISCO ADI shareholder loan payable, and (iii) the 40% interest of WISCO ADI in the shareholder loan payable. Under the proposed transaction, Century Global Commodities will acquire a 40% interest in Labec Century Iron Ore Inc., a 40% interest in WISCO Century Sunny Lake Iron Mines Limited and an 18.9% interest in the Sunny Lake Project. If the transaction completes, WISCO ADI will have no equity ownership in any of the projects, all of which will be 100% owned by Century on a consolidated basis. WISCO ADI will continue to own its approximate 23.5% equity interest in Century which will not be impacted by the completion of the transaction. In addition, WISCO ADI will not have any funding obligations payable to either Labec Century or Century Sunny Lake, and neither Labec Century nor Century Sunny Lake will owe any funds to WISCO ADI. It is anticipated that following WISCO ADI’s acceptance of the offer, the acquisition agreement would provide for (i) the transfer of all of WISCO ADI’s shares in Labec Century and Century Sunny Lake to a subsidiary of Century, (ii) the assignment of a shareholder loan receivable to the Century subsidiary, and (iii) the assumption of a shareholder loan payable obligation of WISCO ADI by the Century subsidiary. In addition, the shareholder and joint venture agreements between Century and WISCO ADI, and their respective affiliates, for the Attikamagen and Sunny Lake iron projects would be terminated on closing. The transaction is subject to the approval of a regulatory board, Century's board and Century's shareholders. As of November 13, 2020, the transaction remains subject to WISCO ADI’s acceptance. As of a meeting held on October 12, 2020, the board of Century has approved the transaction. Additionally, the shareholders of Century have also approved the transaction. The transaction has received the conditional approval of the Toronto Stock Exchange, subject to the company meeting the requirements of the TSX. As of November 13, 2020, the transaction remains subject to WISCO ADI’s acceptance. If Century’s offer to purchase is accepted, Century anticipates that transaction would be completed in November 2020. Century Global Commodities Corporation (TSX:CNT) completed the acquisition of its remaining stakes in Attikamagen and Sunny Lake Iron Ore Projects from WISCO Canada ADI Resources Development & Investment Limited on November 19, 2020. As a result of the completion of the Acquisition, Century’s joint venture agreements with WISCO ADI for Century’s Attikamagen and Sunny Lake iron ore projects have been terminated and Century is now the owner of a 100% interest in each of these projects through its wholly owned subsidiaries. In addition, Century and WISCO ADI have agreed not to pursue any joint venture for the Duncan Lake iron ore project. WISCO ADI continues to be the owner of 23,197,768 common shares of the Company, representing 23.5% of the issued and outstanding shares of Century. The Acquisition was completed through the facilities of the Shanghai United Assets and Equity Exchanges.