TORONTO, May 9 /CNW/ - Star Navigation Systems Group Ltd. (TSX: SNA-V) ("Star" or the "Company") is pleased to announce that, pursuant to the terms and conditions of the Company's stock option plan, Dale F. Sparks, Star's Chief Technology Officer, has been granted 300,000 options to purchase common stock in the Company. These stock options carry an exercise price of $0.15 and expire in five years. Mr. Sparks, part of the original development team responsible for Star's In-Flight Safety Monitoring System, rejoined Star in January of last year. His contributions to date have been significant.
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.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this news
release.
For further information: please visit www.star-navigation.com or Viraf Kapadia, CEO, viraf.kapadia@star-navigation.com
