TORONTO, Jan. 14 /CNW/ - Star Navigation Systems Group Ltd. (TSX-V: SNA)
("Star" or the "Company"), a leading edge technology company focused on
providing Aerospace Solutions, both hardware and software platforms to assist
aviation operators worldwide, is pleased to announce an additional sale of its
TERRASTAR Lite(TM) system to SkyLink Aviation. (See press releases June 6,
August 29, and December 31, 2008).
This brings the total number of units sold to twenty-two for SkyLink.
Revenue to be generated by this sale is, on a pro-rata basis, as set forth in
our press release of August 29, 2008.
The TERRASTAR Lite(TM) provides Flight Tracking, Asset Management,
Two-way Data/Voice Communications, and Backup Emergency SOS/Distress
SkyLink Aviation Inc. is an international aviation group that specializes
in Project Management, Air Charters, Aviation Support, Aircraft Maintenance,
Air Courier, Executive Air Charters as well as Flight Planning and Clearance
Services. SkyLink Aviation has become a global leader in rapid deployment of
peacekeepers and international humanitarian aid, including food and equipment,
during war, major disasters and pandemics for clients such as the United
Nations, World Food Programme, USAID, INS (Homeland Security), IOM, the
Canadian Government, the Red Cross, the Italian Interior Ministry and other
national governments and NGOs.
The Company also announces that it has received regulatory approval for a
Shares for Debt transaction. The Company has issued 150,605 common shares (the
"Debt Settlement Shares") of the Company at a deemed price of $0.15 to Harmeet
Gill to settle an outstanding debt of $22,306. The issuance of the Debt
Settlement Shares did not result in a change of control.
This press release is available on the company's official on-line
investor relations site for investor commentary, feedback and questions.
Investors are asked to visit http://www.agoracom.com/ir/StarNavigation and
view the Star Navigation IR HUB. Alternatively, investors are asked to e-mail
all questions and correspondence to SNA@Agoracom.com
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
For further information:
For further information: please visit www.star-navigation.com or Viraf
Kapadia, CEO, (416) 252-2889, firstname.lastname@example.org; AGORACOM
Investor Relations, Investor Relations, SNA@agoracom.com,