Oct 18, 2013 - Star Navigation Announces Amendment of A.D.S. Contract
Star Navigation Systems Group Ltd. (TSX VENTURE:SNA) ("Star" or the "Company"), announces that the agreement (the "Original Agreement") announced June 22, 2011 between Star and Paradigm Services Limited, has been amended.
Over the past two years, infrastructure has been developed that is required in order to seamlessly interface the analyzed data generated by the STAR-ISMS® equipment on board the aircraft with the customers' Operations Centre. The STAR-A.D.S. ™ system has completed Final System Design Review and is now commercially ready for service.
The Original Agreement provided that Paradigm bore responsibility for: (a) all communications services, and (b) all sales and marketing activities in respect of the airborne data service ("A.D.S.") being offered. Star bore responsibility for STAR-ISMS® technology supply, installation and warranty functions. A recent reassessment of the assigned areas of responsibility under the Original Agreement has resulted in the sales, marketing and customer support functions of this specialized product now being added to Star's responsibilities. Star personnel are intimately familiar with the features, benefits and capabilities of the STAR-ISMS® and will be able to seamlessly assess and respond to more detailed questions and customized requests from potential customers. Under the terms of the amended agreement, Paradigm will continue to supply communications services. Effective October 18, 2013, in recognition of Star's expanded role under the terms of the amended agreement, revenue sharing has been altered so as to significantly increase Star's share. The service will now be marketed under the name STAR-A.D.S.™
Jul 25, 2013 - Star Navigation Announces Reorganization
Star Navigation Systems Group Ltd. (TSX VENTURE:SNA) ("Star" or the "Company"), announces a reorganization of its management functon.
While Research and Development will continue to be an important part of Star's business, as the Company transitions from being primarily a research and development company into the full commercialization of its STAR-ISMS® In-Flight Safety Monitoring System, the Company's' main focus has shifted to sales, marketing and customer support.
As a result of the reorganization, the duties and responsibilities of the Chief Operating Officer ("COO") have been reallocated internally. Mr. John Thorburn, P. Eng., formerly COO, is no longer with the Company.
May 30, 2013 - Star Navigation Announces Completion of Air North Pilot Project
Star Navigation Systems Group Ltd. (TSX VENTURE:SNA) ("Star" or the "Company"), announces that the Pilot Project utilizing an Air North Boeing 737-500 aircraft (see Press Release July 10, 2012) is now complete.
The Company wishes to thank Air North and its management for their very valuable assistance during the successful Pilot Project. Although the target aircraft was in dedicated charter service, and thus provided a relatively limited number of flight hours per month for analysis and customization purposes, suggestions, comments and guidance from Air North throughout the Project were most helpful. They allowed the Star development team to further refine and enhance the utility of the STAR-ISMS®System, and in addition, allowed the Airborne Data Service ("ADS") personnel at Astrium Services to utilize regular data provided by the Project to complete its Final Design System Review and the customer service modules of the ADS, which is now market ready for delivery to customers.
Air North has advised the Company that, given the present composition of their fleet, the full ADS offering of real-time in flight monitoring and detailed reporting of all flights is not appropriate to their current requirements. However, they do wish to utilize the tracking equipment and services supplied by the Company.
May 10, 2013 - Star Navigation Announces Change to Midwest Airlines (Egypt) Installation
Star Navigation Systems Group Ltd. (TSX VENTURE:SNA) ("Star" or the "Company") announces that it has been advised by Midwest Airlines (Egypt) ("Midwest") that Midwest is planning changes to its fleet and that it has requested that Star delay the installation planned for a Boeing 737-800 (see press release March 20, 2013) until alternate aircraft are ready to be placed in service.
Star's contract with Midwest remains in place and deposits already received will be applied to the new installations.
May 6, 2013 - 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 10,030,000 units of the Company at a price per Unit of $0.10 (the "Units"), for gross proceeds totaling $1,003,000. 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 36 months from the closing date. Finder's fees on portions of the placement in the amount of $$87,300 will be paid in Units.
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.
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