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STAR NAVIGATION ANNOUNCES NO MATERIAL CHANGETORONTO, ONTARIO, Feb 09, 2010 (MARKETWIRE via COMTEX News Network) -- Star Navigation Systems Group Ltd. (TSX VENTURE: SNA) ("Star" or the "Company"), at the request of Market Surveillance, on behalf of the TSX Venture Exchange, announces that the Company is not aware of any material undisclosed development at this time that would cause the recent upward movement in the Company's share price. As previously disclosed, the Company continues discussions with respect to new and ongoing business opportunities, the development of its Second Generation Star Server Unit and its research and development activities. No material changes or events have taken place which have not been previously disclosed. 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. Star does not assume any obligation to update these forward-looking statements. 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. Contacts: Star Navigation Systems Group Ltd. Viraf Kapadia CEO (416) 252-2889 viraf.kapadia@star-navigation.com www.star-navigation.com AGORACOM Investor Relations IR HUB http://www.agoracom.com/ir/StarNavigation E-mail all questions and correspondence SNA@agoracom.com http://www.agoracom.com/ir/StarNavigation [Top] STAR NAVIGATION ANNOUNCES COMPLETION OF PRIVATE PLACEMENTTORONTO, Jan. 12, 2010 (Canada NewsWire via COMTEX) -- Star Navigation Systems Group Ltd. (SNA) ("Star" or the "Company") is pleased to announce that, subject to TSX-V acceptance, Star has completed a non-brokered private placement of 19,948,666 units (the "Units") of the Company at an issue price of $0.12 per Unit for gross proceeds totaling $2,393,840. 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 $0.30 per Warrant Share for a term of 24 months from the closing date. Finder's fees in the amount of $231,600 consisting of 1,930,000 Units were paid 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 marketing and general working capital purposes. About Star Navigation: Star Navigation Systems Group Ltd. (www.star-navigation.com) owns the exclusive worldwide license to its proprietary, patented In-flight Safety Monitoring System, the first system in the world to feature in-flight data-analysis, monitoring and diagnostics with a real-time connection between aircraft and ground. 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. 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. Star does not assume any obligation to update these forward-looking statements. 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. %SEDAR: 00009078E SOURCE: Star Navigation Systems Group Ltd. Please visit www.star-navigation.com or Viraf Kapadia, CEO, (416) 252-2889, viraf.kapadia@star-navigation.com; AGORACOM Investor Relations: IR HUB, http://www.agoracom.com/ir/StarNavigation, E-mail all questions and correspondence SNA@agoracom.com, http://www.agoracom.com/ir/StarNavigation. [Top] SKYLINK AVIATION PURCHASES ADDITIONAL UNITSTORONTO, Jan. 5, 2010 (Canada NewsWire via COMTEX) -- Star Navigation Systems Group Ltd. (SNA) ("Star" or the "Company"), a leading edge technology company focused on providing Aerospace Solutions to assist aviation operators worldwide, is pleased to announce two additional sales of its STAR-ISMS™ Lite Flight Tracking and Communication technology units to SkyLink Aviation Inc. (www.skylinkaviation.com). This brings the total SkyLink order to 33. STAR-ISMS™ Lite provides Flight Tracking, Asset Management, Two-way Data/Voice Communications, and Backup Emergency SOS/Distress Capabilities. Revenue generated is as set forth in our press release of August 29, 2008, on a pro-rata basis. Dale F. Sparks, Star's Chief Technology Officer said, "SkyLink Aviation Inc. operates in Afghanistan, an extremely challenging environment. Our relationship with SkyLink started in late 2007, and the continuing addition of STAR-ISMS™ Lite units to their fleet is most gratifying. To me, it speaks to both the quality of the units themselves, and to the dedication of our personnel." 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. Star does not assume any obligation to update these forward-looking statements. 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. %SEDAR: 00009078E SOURCE: Star Navigation Systems Group Ltd. Please visit www.star-navigation.com or Viraf Kapadia, CEO, (416) 252-2889, viraf.kapadia@star-navigation.com; AGORACOM Investor Relations, IR HUB http://www.agoracom.com/ir/StarNavigation; E-mail all questions and correspondence SNA@agoracom.com, http://www.agoracom.com/ir/StarNavigation [Top]
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