|By Marketwired .||
|January 3, 2014 05:00 PM EST||
TORONTO, ONTARIO -- (Marketwired) -- 01/03/14 -- Star Navigation Systems Group Ltd. (TSX VENTURE: SNA) ("Star" or the "Company") is pleased to announce that the TSX Venture Exchange (the "Exchange") has consented to the extension of the term of 19,948,666 common share purchase warrants issued pursuant to a private placement announced January 12, 2010 (the " Warrants"). The Warrants, set to expire on January 12, 2014, will now expire on January 12, 2015. Each Warrant will continue to entitle the holder thereof to purchase one common share of Star at an exercise price of $0.30.
At the Annual General Meeting of the Company held December 16, 2013, the shareholders approved an Advance Notice By-law passed by the Board of Directors of the Company February 13, 2013. This By-law ensures that the Company has adequate time to respond in an informed way to nomination of directors. A copy of the By-law is available on SEDAR or upon written request to the Company.
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 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.
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.
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.
Star Navigation Systems Group Ltd.
Viraf Kapadia, CEO
Renmark Financial Communications Inc.
Bettina Filippone: [email protected]
Jonathan Collins: [email protected]
D. Elizabeth Culley
(416) 644-2020 or (514) 939-3989