Star Navigation Announces Revocation Order Respecting FFCTO

Brampton, Ontario--(Newsfile Corp. - November 29, 2021) - Star Navigation Systems Group Ltd. (CSE: SNA) (CSE: SNA.CN) ("Star" or the "Company") announces that its previously announced failure-to-file cease trade order ("FFCTO") has been revoked by the Ontario Securities Commission ("OSC").

On November 1, 2019, the OSC issued a FFCTO against the Company due to the Company's failure to file by the prescribed filing deadlines:

-audited annual financial statements for the year ended June 30, 2019;

-management's discussion and analysis relating to the audited annual financial statements for the year ended June 30, 2019; and

-certification of the foregoing filings as required by National Instrument 52-109

As a result, the Canadian Securities Exchange (the "CSE") also suspended trading of the Company's common shares. The Company's auditors have now completed the audits of the Company's financial statements for the years ended June 30, 2019, June 30, 2020 and June 30, 2021 and the Company has now filed the audited financial statements for 2019, 2020 and 2021, the quarterly financial statements for September 30, December 31, 2019, March 31, 2020, September 30 and December 31, 2020 and March 31, 2021. and the accompanying Management's Discussion and Analysis and certifications for all relevant periods (the "Filings").

The Company applied to the OSC in June 2021 to have the FFCTO fully revoked, and applied to the CSE on November 25, 2021 to have the Company's shares resume trading after the FFCTO had been fully revoked. The OSC granted the full revocation with respect of the FFCTO on November 24, 2021. The Company is following up with the CSE to remove its suspension and resume the trading of the Company's common shares, which resumption when effected will be confirmed in a follow up press release.

The Company confirms that its business has not changed, the Company remains active.

About Star Navigation:

Star Navigation Systems Group Ltd. manufactures the In-flight Safety Monitoring System, STAR-ISMS®, the heart of the STAR-A.D.S.® System. The STAR-A.D.S.® System has real-time capability of tracking performance trends and predicting incident-occurrence enhances aviation safety and improves fleet management while reducing costs for the operator.

Star's MMI Division designs and manufactures high performance, mission critical, flight deck flat panel displays for defence and commercial aviation industries worldwide.

Certain statements contained in this Release constitute forward-looking statements. When used in this document, the words "may", "would", "could", "will", "expected", "intend" and similar expressions, as they relate to Star or its management or board 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.

The risks posed by the COVID-19 pandemic are real and substantial but cannot be defined or measured in any meaningful way at this time. Many other 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, except as required by law.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of the content of this release.

Please visit www.star-navigation.com or contact

Mr. Amir Bhatti, CEO at 1-416-252-2889 #230 or amir.bhatti@star-navigation.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/105648