Star Navigation Corporate Update

March 13, 2024 7:07 AM EDT | Source: Star Navigation Systems Group Ltd.

Brampton, Ontario--(Newsfile Corp. - March 13, 2024) - Star Navigation Systems Group Ltd. (CSE: SNA) (CSE: SNA.CN) ("Star" or the "Company") wishes to announce the resignations of Mr. Karl Reichert and Mr. Anoop Brar from the Board of Directors effective immediately and the appointments of Mr. Alessandro Cunsolo, M.Eng and Ms. Amanpreet Kaur-Purewal to the Board effective immediately.

Mr. Reichert has been a steady solid advisor to the Management of Star as both a Director and a long time-investor for many years. For personal reasons he was not able to devote the time he felt necessary to be an effective Board member. The Company wants to thank Karl for his years of service and support and wishes him all the best in the future.

Mr. Brar has resigned as both Director and Chief Technical Officer to pursue other endeavors and the Company thanks Mr. Brar for his efforts and wishes him all the best in the future.

The Company is pleased to announce the additions of both Mr. Alessandro Cunsolo and Ms. Amanpreet Kaur-Purewal to the Star Board.

Mr. Cunsolo presents a new face of relevant expertise with a shared vision for the future of STAR. He holds a Masters degree in Aerospace Engineering, from which he obtained a strong research background in predictive AI systems and the optimization of design for manufacturing processes. He has over 6 years of experience serving on boards of directors at the faculty, provincial and national levels throughout his undergrad, and currently serves as chairperson for the TMU faculty of Science and faculty of Engineering societies. He currently works in additive manufacturing consulting, and as of November 2023 has obtained his first US patent for a detachable skate tightening system. He is well versed in aviation technology and is actively pursuing his pilot's license with plans to one day become a commercial pilot.

Ms. Purewal has her Juris Doctor from Lincoln Law School. She was recently In-House Counsel for Kaiser Permanente out of California, USA where she focused on Mitigation expert-risk management, analysis and response.

About Star Navigation Systems -

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-occurrences which enhances aviation safety and improves fleet management while reducing costs for the operator. Star's MMI Division (Military and Defence) designs and manufactures high performance, mission critical, flight deck flat panel displays for defence and commercial aviation industries worldwide.

Forward-Looking Information

Certain statements in this news release may constitute "forward-looking statements". Forward-looking statements are statements that address or discuss activities, events or developments that Star expects or anticipates may occur in the future.

When used in this news release, words such as "estimates", "expects", "plans", "anticipates", "projects", "will", "believes", "intends" "should", "could", "may" and other similar terminology are intended to identify such forward-looking statements.

Forward-looking statements reflect the current expectations and beliefs of Star's management. Because forward-looking statements involve known and unknown risks, uncertainties and other factors, actual results, performance or achievements of Star or the industry may be materially different from those implied by such forward-looking statements.

Examples of such forward-looking information that may be contained in this news release include statements regarding; growth and future prospects of our business; our perceptions of the industry and markets in which we operate and anticipated trends in such markets; expectations regarding the operation of our app; and our future revenues.

Material factors or assumptions that were applied in drawing a conclusion or making an estimate set out in the forward-looking statements may include, but are not limited to, our ability to execute on our business plan, increase visibility amongst consumers and convert users to revenue producing subscribers and the success of the business of our partners. Forward-looking statements involve significant uncertainties, should not be read as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achieved.

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.

Accordingly, readers should exercise caution in relying upon forward-looking statements and Star undertakes no obligation to publicly revise them to reflect subsequent events or circumstances, except as required by law.


Please visit or contact

Randy Koroll, Chief Financial Officer at 1-416-252-2889 x228

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