TORONTO, ONTARIO -- (Marketwired) -- 05/13/16 -- Star Navigation Systems Group Ltd. (TSX VENTURE: SNA) ("Star" or the "Company") announces that it has applied to the TSX Venture Exchange (the "Exchange") to extend the term of and reprice 10,030,000 common share purchase warrants (the "Warrants") issued pursuant to a private placement announced May 6, 2013. The Warrants, originally due to expire May 15, 2015 carried a previously amended exercise price of $0.12.
Subject to Exchange approval, each Warrant will now entitle the holder thereof to purchase one common share of Star at an exercise price of $0.09. The new expiry date of the Warrants will be May 15, 2018.
About Star Navigation: (www.star-navigation.com)
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 predicting incident-occurrence 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.
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
