TORONTO, ONTARIO -- (Marketwired) -- 04/08/16 -- Star Navigation Systems Group Ltd. (TSX VENTURE: SNA)(OTCBB: SNAVF) ("Star" or the "Company") announces that it has applied to the TSX Venture Exchange (the "Exchange") to extend the term of and reprice 27,959,933 common share purchase warrants (the "Warrants") issued pursuant to a private placement announced April 15, 2014. The Warrants, originally due to expire April 15, 2016, carried an exercise price of $0.15.
Subject to Exchange approval, each Warrant will now entitle the holder thereof to purchase one common share of Star at an exercise price of $0.08. The new expiry date of the Warrants will be April 15, 2019.
About Star Navigation:
Star Navigation Systems Group Ltd. owns the exclusive worldwide license to its proprietary, patented In-flight Safety Monitoring System, STAR-ISMS®, the heart of the STAR-A.D.S. ® System. It is the first system in the world to feature in-flight data-analysis, monitoring and diagnostics with a real-time connection between aircraft and ground. Its real-time capability of tracking performance trends and facilitating incident-occurrence prevention enhances aviation safety and improves fleet management while reducing costs for the operator.
Star's MMI Division designs and manufactures high performance, mission critical, flight deck flat panel displays for defence and commercial aviation industries worldwide.
Certain statements contained in this News Release constitute forward-looking statements. When used in this document, the words "may, "would", "could", "will" and similar expressions, as they relate to Star or its management are intended to identify forward-looking statements. Such statements reflect Star's current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause Star's actual performance or achievements to vary from those described herein. Should one or more of these factors or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Star does not assume any obligation to update these forward-looking statements, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the content of this release.
Contacts:
Star Navigation Systems Group Ltd.
Viraf Kapadia
CEO
(416) 252-2889 Ext. 230
viraf.kapadia@star-navigation.com
www.star-navigation.com
Investor Relations:
Frontier Merchant Capital Group
info@frontiermcg.com
