Star Navigation Announces Warrant Extension and Repricing
Brampton, Ontario--(Newsfile Corp. - March 30, 2021) - Star Navigation Systems Group Ltd. (CSE: SNA) (CSE: SNA.CN) ("Star" or the "Company") is pleased to announce that, subject to Canadian Securities Exchange approval, it is extending the terms and reducing the exercise prices of the following share purchase warrants.
46,708,000 share purchase warrants issued pursuant to a private placement announced on September 5, 2018 exercisable at $0.065 per share purchase warrant and expiring on September 5, 2021 will now expire on September 5, 2023 and be exercisable at $0.05 per share purchase warrant.
3,766,667 share purchase warrants issued pursuant to a private placement announced on April 26, 2018 exercisable at $0.07 per share purchase warrant and expiring April 2, 2021 will now be extended and expire on April 2, 2023 and be exercisable at $0.05 per share purchase warrant.
3,147,667 share purchase warrants issued pursuant to a private placement announced on September 6, 2019 issued at $0.05 per share purchase warrant and expiring September 4, 2021 will now be extended and expire on September 4, 2024 and still be exercisable at $0.05 per share purchase warrant.
About Star Navigation:
Star Navigation Systems Group Ltd. owns the exclusive worldwide license to its proprietary, patented In-flight Safety Monitoring System, STAR-ISMS®, the heart of the STAR-A.D.S. ® System. 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.
Star's M.M.I. Division designs and manufactures high performance, mission critical, flight deck flat panel displays for defence and commercial aviation industries worldwide. These displays are found on aircraft and simulators from the P-3 Orion and C-130 aircraft, to Sikorsky and Agusta Westland helicopters, as examples.
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 email@example.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/78830