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TORONTO, July 29, 2019 (GLOBE NEWSWIRE) – Star Navigation Systems Ltd. Group (CST: SNA) (CSE: SNA.CN) (OTCQB: SNAVF) ("Star" or "the Company"), is pleased to announce that it extends the duration of 46,708,000 share purchase warrants common shares (the "2018 Warrants") issued in connection with a private placement announced on September 6, 2018. The 2018 Warrants, which were originally scheduled to expire on September 5, 2019, will now expire on September 5, 2021.
The Company has also applied to the Canadian Stock Exchange (the "Exchange") to re-apply the warrants. Each warrant will now entitle its holder to purchase one common share of Star at an exercise price of $ 0.065.
About Star Navigation:
Star Navigation Systems Group Ltd. holds the exclusive worldwide license for its patented and patented flight safety monitoring system, STAR-ISMS®, the heart of the STAR-A.D.S system. ® System. Its real-time ability to track performance trends and predict the occurrence of incidents improves aviation safety and fleet management while reducing operator costs.
Star M.M.I. The division designs and manufactures high performance and critical badpit flat screens for the defense and commercial aviation sector worldwide. These displays are found on aircraft and simulators, from P-3 Orion and C-130 aircraft to Sikorsky and Agusta Westland helicopters, for example.
Star-Isoneo Inc., a subsidiary of Star, is a software company specializing in the development of complex engineering, simulation and development solutions for Canadian customers. Star-Isoneo is working closely with Star on the development of Star-A.D.S patented MEDEVAC (STAR-ISAMM ™ and STAR-LSAMM ™) applications. ®, and its current research and development program with Bombardier.
Certain statements in this press release constitute forward-looking statements. When they are used in this document, the terms "may", "would", "could", "will", "will be expected" and similar expressions, in that they relate to Star or management, are intended to identify forward-looking statements. These statements reflect Star's current views of future events and are subject to certain risks, uncertainties and badumptions. There are many factors that may cause Star's performance or achievements to differ from those described in this document. If one or more of these factors or uncertainties materialize, or if the badumptions underlying the forward-looking statements prove to be incorrect, the actual results could differ materially from those described in this document, as expected, anticipated, expected, estimated or planned. Star badumes no obligation to update these forward-looking statements, except as required by law.
Neither the Canadian Securities Exchange nor its Market Control Authority (as that term is defined in the policies of the Canadian Securities Exchange) badumes any liability for the adequacy or accuracy of the transaction. the contents of this press release.
Please visit www.star-navigation.com or
Viraf S. Kapadia, Executive Director (416) 252-2889 ext 230
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