TORONTO, Aug. 23, 2017 (GLOBE NEWSWIRE) -- Star Navigation Systems Group Ltd. (CSE: SNA) (CSE: SNA.CN) ("Star" or the "Company"), announces that it is applying to OTC Markets Group to trade the Company's common shares on the OTCQB in the U.S. At the same time, the Company is in the process of applying for eligibility for its common shares with The Depository Trust Company (“DTC”). DTC is a subsidiary of the Depository Trust & Clearing Corp. and manages the electronic clearing and settlement of share transactions for publicly-traded companies
. Viraf S. Kapadia, CEO of Star stated: “The listing of our shares on the OTCQB will introduce our Company to a larger market and will provide shareholders with additional liquidity and increased trading capacity. We look forward to advising our shareholders as soon as the application process is complete."
About OTC Markets Group Inc.
OTC Markets Group Inc. operates the OTCQX® Best Market, the OTCQB® Venture Market, and the Pink® Open Market for 10,000 US and global securities. Through OTC Link® ATS, the company connects a diverse network of broker-dealers that provide liquidity and execution services. The company enables investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors. OTC Link ATS is operated by OTC Link LLC, member FINRA/SIPC and SEC regulated ATS.
Aug 18, 2017 - A-310 STC
TORONTO, Aug. 18, 2017 (GLOBE NEWSWIRE) -- Star Navigation Systems Group Ltd. (CSE:SNA) (CSE:SNA.CN) ("Star" or the "Company"), is pleased to confirm it has now obtained the final Supplementary Type Certificate (“STC”) authorization required to operate its recently released STARA.D.S. ® 3rd Generation system on-board an Airbus A310. The granting of the STC by Transport Canada was received after demonstration of key functionalities which include streaming of real-time aircraft data through Iridium SATCOM transmission.
With this final certification, the STAR-A.D.S. ® SSU-G3, having passed aircraft installation and noninterference tests, will soon enter into commercial operation with its first wide-body operator in the Middle-East. (See Press Releases May 3, 2016 and April 19, 2017).
The STAR-A.D.S. ® system incorporates GSM hardware for end of flight data transmission and offers the ability to manually extract aircraft data as well. The system can be remotely accessed via GSM in any parts of the world for any maintenance, upload or download of data as required by the customer. Another component of the system is to offer tracking of the aircraft at customer defined intervals which can be viewed on a secure web-based application. Upon completion of a flight, the system generates end-of-flight reports which is used by the customer to support flight, finance and engineering operations.
Mr. Viraf S. Kapadia, CEO of Star said:
“With this final ‘green light’ we can start operating the SSU-G3 on commercial flights, bringing quick savings to the operators as well as compliance with the newest tracking and positioning recommendations.”
Aug 4, 2017 - Star Navigation Announces Shares for Debt Transaction
TORONTO, Aug. 04, 2017 (GLOBE NEWSWIRE) -- Star Navigation Systems Group Ltd. (CSE:SNA) (CSE:SNA.CN) (OTCBB:SNAVF) ("Star" or the "Company”) announced today that it has agreed to settle outstanding indebtedness of $2,186,689 (the “Debt”) through the issuance of 27,333,615 common shares of the Corporation, at a deemed price of $0.08 per common share (the “Debt Settlement”). The deemed price was protected by a price reservation granted by the Canadian Securities Exchange July 13, 2017.
The common shares issued in connection with the Debt Settlement are subject to a four month hold period from date of issue.
This transaction reduces the Company’s current liabilities and significantly improves its working capital ratio.
Jul 20, 2017 - Star Navigation receives first Star V-trk order
Mr. Viraf Kapadia reports
STAR NAVIGATION ANNOUNCES FIRST PURCHASE ORDER FOR STAR V-TRK
Star Navigation Systems Group Ltd. has received its first order for Star V-trk units, Star's newest tracking and monitoring equipment for airborne applications.
The Star V-trk is the latest part of Star's patented family of systems, able to track and monitor aircraft, in real time, worldwide.
The Star V-trk is the smallest piece of equipment in Star's portfolio, able to perform tracking and positioning through satcom, as well as provide on-board data collection, processing and downloading.
It is ideally suited for small aircraft and helicopters, but is also intended for applications to land vehicles.
Tianjin Zhonglian Tiantong Space Technology Co. Ltd. (ZLT), Star's distributor in China for Star V-trk, will deploy these first two units before the end of October, 2017. ZLT will also use Star ground segment technology for tracking and data display.
Viraf S. Kapadia, chief executive officer of Star said:
"We are excited by this first concrete step in our approach to the Chinese market, and are very encouraged by the excellent and quick response by our distributor. We are looking forward to being able to demonstrate the features and benefits of the Star V-trk in a live environment. We are also planning further applications and variations of the Star V-trk product to address specific needs identified by our research. We anticipate a long and mutually beneficial relationship with ZLT in China."
About Star Navigation Systems Group Ltd.
Star Navigation owns the exclusive worldwide licence to its proprietary, patented inflight safety monitoring system, STAR-ISMS, the heart of the STAR-ADS system. 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.
We seek Safe Harbor.
Jul 14, 2017 - Star Navigation's server receives full certification
Mr. Jean-Louis Larmor reports
STAR NAVIGATION ANNOUNCES FULL CERTIFICATION OF SSU-G3
Star Navigation Systems Group Ltd.'s the latest version of its server, the Star Server Unit-G3 (SSU-G3), has received full certification and is ready to enter service.
The SSU G3 features, amongst other things, an additional GSM transmission capability for its reporting and raw data transmission functions. It is now fully compatible with the latest avionics standards and is available for on-board implementation across all currently flying aircraft and helicopter fleets worldwide. In addition, the SSU-G3 has enhanced capabilities of manual USB extraction.
The latest-generation SSU-G3 has successfully passed all environmental tests for hardware as well as software for avionics equipment. Electromagnetic interference (EMC/EMI), environmental and flammability testing were successfully completed for the DO 160G certification. DO 178B Level E was also successfully attained for software certification.
About Star Navigation Systems Group Ltd.
Star Navigation owns the exclusive worldwide licence to its proprietary, patented inflight safety monitoring system, STAR-ISMS, the heart of the STAR-ADS system. 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.
We seek Safe Harbor.
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