Apr 4, 2016 - Star Navigation Updates ICAO Response to Global Climate Agreement
TORONTO, Ontario, April 4, 2016 –Star Navigation Systems Group Ltd. (TSX-V: SNA) (OTCBB: SNAVF) ("Star” or the “Company”) announces that last month, the International Civil Aviation Organization (ICAO) launched a series of regional outreach and education sessions as negotiations continue towards the adoption of a global climate agreement for air transport. In the wake of the recent Paris Agreement on climate change, ICAO is deploying its already well-established program for addressing aviation and climate change and promoting carbon reduction programs for its member states. Star Navigation is supporting these efforts to set goals for the industry and for airlines, and to reduce aviation’s carbon dioxide emissions. The Company's STAR-A.D.S. ® system for in-service fleets of aircraft, continuously monitors all phases of flight and provides immediate monitoring of data on fuel burn. The system automatically builds, on the ground, a data base of key parameters and indicators for an easy-to-use fuel monitoring and savings program. STAR-A.D.S. ® can assist in carbon tax calculations and at the same time, spread awareness and encourage airlines to introduce initiatives aimed at the reduction of fuel use and thereby, the reduction of carbon tax charges. Utilizing the STAR-A.D.S. ® system as designed, operators can significantly save on their fuel budget, and meet the new challenges of greenhouse gas emission reduction.
Apr 1, 2016 - Star Navigation Updates ICAO Global Tracking Requirements
TORONTO, ONTARIO--(Marketwired - March 31, 2016) - Star Navigation Systems Group Ltd. (TSX VENTURE:SNA) (OTCBB:SNAVF) ("Star" or the "Company") announces that earlier this month, the International Civil Aviation Organization (ICAO) adopted new aircraft tracking provisions designed to gradually take effect by 2021. These provisions include a requirement that aircraft carry a device that can autonomously transmit its location every minute during emergency circumstances, while at the same time enhancing the ability to recover and make available aircraft recorded data in a timely manner in the case of an incident.
Star Navigation commends the ICAO Committee on the adoption of these provisions that will promote complete worldwide tracking of aircraft. These measures come as a result of the unfortunate disappearance of Malaysian Airlines MH370 two years ago.
Following the losses of Air France flight AF447 in 2009 and MH370 in 2014 Star Navigation worked with several regulatory authorities, (including the French BEA and the ad-hoc working-groups from ITU and ICAO), on developing connectivity, advanced tracking and data safe retrieval. During these discussions, Star contributed to the identification of key technologies to be followed, demonstrated how its autonomous STAR-A.D.S. ® system allowed connectivity for customizable real-time worldwide tracking, and facilitated necessary data download to the ground, both in nominal and emergency situations.
The STAR-A.D.S. ® system is already implemented and fielded, providing operators with value added functions and basic features that meet today the objectives laid down by ICAO for 2021.
Mar 14, 2016 - Star Navigation Announces Extension of Private Placement
TORONTO, ONTARIO--(Marketwired - March 14, 2016) - Star Navigation Systems Group Ltd. (TSX VENTURE:SNA) (OTCBB:SNAVF) ("Star" or the "Company") announces that it has received permission from the TSX-Venture Exchange ("TSX-V") to extend the expiry date of its previously announced private placement (see Press Release January 28, 2016).
The Company intends to close the offering as soon as the minimum raise of $882,000 is received. The closing date will now be on before April 13, 2016.
Feb 25, 2016 - Star Navigation Announces Launch of New Products for 2016
TORONTO, ONTARIO--(Marketwired - Feb. 25, 2016) - Star Navigation Systems Group Ltd. (TSX VENTURE:SNA)(OTCBB:SNAVF) ("Star" or the "Company") is pleased to announce that it has commenced the final certification process for its new STAR-T.T.T.™ and STAR V-trk™ products. Transport Canada has approved Star's STAR-T.T.T.™ certification plan, which is being implemented by Star's Engineering Department in Canada and by Star's Chinese partners for approval by the Chinese regulatory authorities. The STAR V-trk™ certification process is also underway.
STAR-T.T.T.™ (Talk, Text and Track), is a simple, cost effective, easy to install tracking and two way communications system, offering worldwide, satellite based coverage. Designed by Star in cooperation with Chengdu Spaceon Technology Co. Ltd. of China, STAR-T.T.T.™ is expected to be fully certified in both Canada and China in the second quarter of 2016.
Star also plans to shortly roll out its STAR V-trk™ product to the market. This product is even smaller in size, and is ideal for quick installation across a wide range of platforms. It provides automatic, real-time, worldwide tracking and flight data analysis, with sat-com transmission capability. Full certification is also expected in Q2, 2016.
Star is now accepting pre-booking orders for these products, which will address both the fixed wing and rotary wing aircraft market segments.
Both these products will provide web based, customized, value added services in addition to improved situational awareness.
Viraf S. Kapadia, Star's CEO mentioned:
"With the launch of these new products, Star's patented technology is continuing to offer customers technologically advanced and effective solutions, not only for commercial aerospace but for air, sea, and land transportation as well as for defense requirements."
Jan 28, 2016 - Star Navigation Announces Private Placement
TORONTO, ONTARIO--(Marketwired - Jan. 28, 2016) - Star Navigation Systems Group Ltd. (TSX VENTURE:SNA)(OTCBB:SNAVF) ("Star" or the "Company") announces that it intends to complete a non-brokered private placement (the "Offering"), to raise up to $1 million.
The Offering will issue up to 33,333,333 Units at a price per Unit of $0.03 and is being done under a waiver granted by the TSX Venture Exchange ("TSX-V"), pursuant to the Discretionary Waivers of $0.05 Minimum Pricing Requirement bulletin dated April 7, 2014. The waiver requires that the Offering raise a minimum of $882,000.
Each Unit will consist of one (1) common share and one common share purchase warrant ("Warrant"). Each Warrant will entitle the holder to acquire one common share at a price of $0.07 for a period of three years from the date of issue.
The net proceeds from the Offering are to be used for research and development and corporate overhead purposes. Star has agreed to pay finder's fees in the amount of ten (10%) percent of gross proceeds in cash, Units or in a combination of cash and Units. Any Units payable as finder's fees will be valued at $0.05 per Unit.
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 financing is subject to the final approval of the TSX-V.
The proceeds from the private placement will be used by Star for working capital (6 months - $882,000 - payroll, leases, insurance, G&A), payables ($411,000), and short term debt repayment ($125,000), for a total of $1,481,000. There will be no related party payments.
Offsetting these expenses will be minimum estimated revenues amounting to over $420,000 in the next 6 months. This estimate is based upon orders already booked and customer order patterns.
Mr. Viraf S. Kapadia, CEO said,
"The past 15 months saw our revenues grow to over $1.1 million, compared with less than $100,000 per year previously. Based on current orders booked and customer order patterns, we expect sales for the next 12 months to reach $1.5 million."
The Company will update shareholders when the private placement has been completed and TSX-V final approval has been received.
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