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Latest News and Archives about STAR

Nov 15, 2012 - Star Extends Term and Reprices Warrants

Star Navigation Systems Group Ltd. (TSX VENTURE:SNA) ("Star" or the "Company"), announces that it has applied for regulatory approval for a shares for debt conversion transaction (the "Debt Settlement").

Star Navigation Systems Group Ltd. (TSX VENTURE:SNA) ("Star" or the "Company") is pleased to announce that it has applied to the TSX Venture Exchange (the "Exchange") for approval of the extension of the term of certain common share purchase warrants and the repricing of others. If accepted by the Exchange, the terms of the common share purchase warrants shall be as follows:

4,244,465 common share purchase warrants issued pursuant to a private placement accepted for filing December 3, 2008 (the "December 3, 2008" Warrants"), set to expire on December 1, 2012, will now expire on December 1, 2013. A full December 3, 2008 Warrant will now to entitle the holder thereof to purchase one common share of Star at an exercise price of $0.20.

3,052,550 common share purchase warrants issued pursuant to a private placement accepted for filing April 9, 2009 (the "April 9, 2009 Warrants") set to expire on December 1, 2012, will now expire on April 7, 2014. A full April 9, 2009 Warrant will now entitle the holder thereof to purchase one common share of Star at an exercise price of $0.20.

10,226,666 common share purchase warrants issued pursuant to a private placement accepted for filing November 10, 2009 (the "November 10, 2009 Warrants"), set to expire on December 1, 2012 will now expire on November 1, 2014. Each November 10, 2009 Warrant will continue to entitle the holder thereof to purchase one common share of Star at an exercise price of $0.20.

3,228,333 common share purchase warrants issued pursuant to a private placement accepted for filing December 7, 2009 (the "December 7, 2009 Warrants"), set to expire on December 1, 2012, will now expire on November 1, 2014. Each December 7, 2009 Warrant will continue to entitle the holder thereof to purchase one common share of Star at an exercise price of $0.20.


Nov 2, 2012 - Star Navigation Announces Debt Settlement Agreement

Star Navigation Systems Group Ltd. (TSX VENTURE:SNA) ("Star" or the "Company"), announces that it has applied for regulatory approval for a shares for debt conversion transaction (the "Debt Settlement").

The Company has entered into agreements with several creditors, including two directors and an officer of the Company, pursuant to which the Company will issue from treasury, 2,550,463 common shares of the Company ( the "Debt Settlement Shares") at a deemed price of $0.0 per share in settlement of outstanding amounts. The Debt Settlement will result in reducing Star's debts by $204,037. The Company decidedto satisfy the indebtedness with shares in order to preserve cash. The issuance of the Debt Settlement Shares will not result in a change of control and the transaction is subject to TSX-Venture Exchange approval. The shares issued will be restricted from sale for a period of four months plus a day after the date of issue.

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.


Sep 17, 2012 - Star Navigation Announces Completion of Private Placement

Star Navigation Systems Group Ltd. (TSX VENTURE:SNA) ("Star" or the "Company") is pleased to announce that, subject to TSX-Venture Exchange ("TSX-V") acceptance, Star has completed a non-brokered private placement of 26,100,000 units (the "Units") of the Company at an issue price of $0.08 per Unit for gross proceeds totaling $2,088,000. The price was reserved with the TSX-V.

Each Unit consists of one common share and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one common share of the Company (a "Warrant Share") at a price of $0.20 per Warrant Share for a term of 60 months from the closing date. Finder's fees in the amount of $189,850 will be paid in Units in connection with this private placement.

All securities issued in the Offering and any shares issued upon exercise of Warrants are subject to a four month statutory hold period from the date of issuance. The net proceeds of the placement will be used for research and development, marketing and general working capital purposes.


Aug 28, 2012 - Star Extends Term of Warrants

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 10,875,000 common share purchase warrants issued pursuant to a private placement accepted for filing by the TSX Venture Exchange September 20, 2010 (the "Warrants"). The Warrants, set to expire on September 16, 2012, will now expire on September 15, 2015. Each Warrant will continue to entitle the holder thereof to purchase one common share of Star at an exercise price of $0.20.


Jul 19, 2012 - Star Navigation Announces Final Software Approval

Star Navigation Systems Group Ltd. (TSX VENTURE:SNA) ("Star" or the "Company"). Star Navigation Systems Group Ltd. is pleased to announce that it has received a Statement of Compliance for the STAR-ISMS® software from a Design Approval Representative of Transport Canada. The Statement of Compliance certifies that the STAR-ISMS® software complies with Airworthiness Manual Chapter 511 (AWM Chapter 511) issued by Transport Canada and Level E guidelines of the DO-178B standard issued by RTCA, Inc.

This approval is the final step in the software development process and approves the latest version of STAR-ISMS® software (2.0). Installation will be subject to the normal Supplementary Type Certificate process.



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