Aug 18, 2015 - Star Navigation Announces Closing of Private Placement
TORONTO, ONTARIO--(Marketwired - Aug. 18, 2015) - Star Navigation Systems Group Ltd. (TSX VENTURE:SNA)(OTCBB:SNAVF) ("Star" or the "Company") is pleased to announce that it has closed the final tranche of its previously announced non-brokered private placement, having issued a total of 5,240,000 units of the Company (the "Units") at a price per Unit of $0.05 for gross proceeds of $262,000. Each Unit consists of one common share in the capital of the Company and one warrant. One-half (1/2) of the number of warrants acquired entitle the holder to purchase one (1) additional common share of the Corporation at six ($0.06) cents per warrant exercised and the remaining one-half (1/2) of the warrants entitle the holder to purchase one additional common share of the Corporation at twelve ($0.12) cents per warrant exercised. The warrants are exercisable during the two (2) year period from the date of issue.
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. Due to the fact that the private placement was completed in two tranches, there are two hold period expiry dates and two warrant expiry dates associated with the shares and warrants issued. The first tranche four month hold period on 5,000,000 common shares expires November 25, 2015; the second tranche four month hold period on 240,000 common shares expires December 25, 2015. Any common shares issued as the result of conversion of warrants will also be subject to the same hold periods. In addition, 5,000,000 warrants will expire on July 25, 2017, while 240,000 warrants will expire on August 25, 2017.
The net proceeds of the placement will be used for research and development, marketing and corporate overhead. Star has agreed to pay finder's fees in the amount 128,000 Units. The price was reserved with the TSX-V.
Aug 17, 2015 - Star Navigation Receives Approved Vendor Status with Major Asian Aircraft OEM
TORONTO, ONTARIO--(Marketwired - Aug. 17, 2015) - Star Navigation Systems Group Ltd. (TSX VENTURE:SNA)(OTCBB:SNAVF) ("Star" or the "Company") is pleased to announce that it has become an Approved Vendor to a major Asian aircraft and avionics manufacturer. This status covers both its STAR-MMI Division displays and control panels, as well as its STAR-A.D.S. ™ Real-time monitoring and analysis systems.
Jean-Louis Larmor, Star's COO said,
"Both our displays and real-time monitoring activities will benefit from the status obtained by our company. It means that after having shown our capabilities and having been surveyed, Star is recognized as a worthy industry supplier. We are now authorized to compete on RFP's and to cooperate with this manufacturer. This opens new possibilities for our products. We have already positioned STAR-M.M.I. on initial requests to several of their future projects."
By becoming an Approved Vendor to a major Asian OEM, the Company continues its recent focused moves into regions where aerospace activities are expanding quickly and where long term growth is indicated. Star plans to develop both its military, commercial aircraft and helicopter presence and business along with the OEM activities.
Aug 6, 2015 - Star Navigation Announces New COO
TORONTO, ONTARIO--(Marketwired - Aug. 6, 2015) - Star Navigation Systems Group Ltd. (TSX VENTURE:SNA)(OTCBB:SNAVF) ("Star" or the "Company") is pleased to announce the appointment of Jean-Louis Larmor as Chief Operating Officer of the Company, effective August 1st, 2015.
Mr. Larmor brings to this position an extensive background in the Aerospace Industry. His experience ranges from company management to strategic analysis, business development, program management, sales and support. Previous positions include Director - Thales International Canada, Director Business Development - Aerospace, Thales International, North America, Vice President - Strategy and Business Development, Sextant Avionique, and Marketing and Sales positions with Aerospatiale, France.
Mr. Larmor was a member of Star's Strategic Advisory Board for many years and most recently held the position of V.P. Corporate Development. He continues to be Corporate Secretary.
His promotion follows his successful integration of Star's MMI Division and advancing the STAR-A.D.S.™ system to implementation. As COO, Mr. Larmor will be in a position to more effectively support the Company's two major product lines.
The display and control activities offered by Star's MMI Division has generated sales of over $1.3 million in the past twelve months. The MMI Division is expected to grow as Star establishes itself as a preferred supplier of quality services in the aircraft and helicopter retrofit markets. The Star MMI Division is currently working with several major players in Asia, the Mediterranean, North America, and Europe.
Star's real-time tracking, data monitoring and analysis line of products now offers a range of solutions addressed to specific aerospace and transport market segments.
Star's recently upgraded state of the art ground-based operator environment (GUI) enables the operator with a user-friendly, intuitive set of tools that allows rapid analysis of flights, as well as the status and location of the aircraft.
While Star has continued to expand its product line and operating capabilities, it has also revamped its sales and marketing organization by providing additional support to its most effective sales agents and by continuously seeking new agents and brokers in focused geographical segments.
Viraf Kapadia, Chairman and CEO, commented:
"The appointment of Jean-Louis as COO is an important part of our growth strategy, developing our presence with specific aerospace players and in key emerging countries. With Jean-Louis as COO, we plan to expand our existing partnerships and implement a long-term presence in selected areas, with a priority focus on sales and marketing."
Jul 27, 2015 - Star Navigation Announces New Product
TORONTO, ONTARIO--(Marketwired - July 27, 2015) - Star Navigation Systems Group Ltd. (TSX VENTURE:SNA)(OTCBB:SNAVF) ("Star" or the "Company") is pleased to announce that it has signed a framework agreement with an undisclosed avionics system manufacturer to launch the world's first 'Real Time' Global Health Monitoring System for all types of aircraft, helicopters and train cars.
The concept combines field proven engine, transmission and vibration monitoring solutions for helicopters and fixed wing aircraft, with Star's STAR-TTT real time satellite based data transmission system.
The end result will provide real time 24/7 tracking and health data, as well as voice streaming to ground operations.
The new system is also designed to adapt to railway cars, providing on-board diagnostic, prognostic analysis and equipment failure prediction. It will drastically reduce the maintenance costs of railway bogies, freight cars and monitor railway tracks throughout the network.
It will monitor and perform diagnostics of all critical components of the airborne or railway platform, providing the operator with real-time health alarms, status, and accurate and reliable usage information. It will enable cost-effective maintenance while keeping the fleet in optimal condition.
Mr. Kapadia, CEO of Star said,
"The coming together of these two technology fields opens new possibilities in the global transport market place. We will be offering a unique technology solution, meeting both aerospace and railway industry challenges.
It will open doors to a massive market that is currently poorly serviced in both the aviation sector for fixed and rotary wing (Helicopters) and the global Railway networks."
"The 'Real Time' Global Health Monitoring System is a major development that will drive the HUMS market in significant way. It opens new markets such as Railway networks, which will be able to benefit from the diagnostic and prognostic analysis that can help to predict equipment failure."
Jul 16, 2015 - Star Navigation Announces Agreement With Nacora Insurance Brokers Ltd.
TORONTO, ONTARIO--(Marketwired - July 16, 2015) - Star Navigation Systems Group Ltd. (TSX VENTURE:SNA)(OTCBB:SNAVF) ("Star" or the "Company") is pleased to announce that it has joined forces with Nacora Insurance Brokers, a division of Kuehne + Nagel Ltd., ("Nacora") to offer their mutual commercial aviation customers savings by way of a discount from Star on equipment and services, possible insurance premium reductions, as well as by way of fuel and maintenance cost reduction.
Nacora is known as a leader of innovative insurance solutions in Canada, and, through its network of 42 offices in over 36 countries, Nacora deploys insurance, claims and risk management specialists covering transport and logistics all over the world.
In partnership with Kuehne + Nagel, Nacora has developed market leading cargo insurance solutions tailored to the individual needs of specific industry segments. It focuses on marine cargo, aviation, specialty programs, commercial midmarket and providing comprehensive personal insurance solutions.
Star's STAR-A.D.S. ™ system is an on-board flight data monitoring system. It provides a "virtual window into the aircraft", securely transmitting - in real time - flight data and system alerts. It instantly analyzes the data from multiple selected avionics and transmits - in real time - selected data and alerts to a ground station. It provides detailed flight tracking, allowing the operator to monitor the location and operational status of the flight at all times - worldwide. The system gives the airline operator the opportunity to enhance safety by scheduling proactive maintenance of systems trending out of optimal parameters, while at the same time reducing fuel usage through amendment of operating procedures.
Viraf S. Kapadia, CEO of Star said:
"Nacora has assisted Star with its insurance program for many years and we are delighted to have the opportunity to assist their aviation customers to enhance safety, reduce costs, improve their customer service levels and qualify for possible insurance premium reductions."
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