Business
Star Navigation Announces Clarification of Debt Exchange
Star Navigation Announces Clarification of Debt Exchange.
About this update from Star Navigation Systems Group Ltd.
[{"type":"text","content":"\n\n\n\n\nTSX Venture Exchange Symbol: SNA\n\nTORONTO, March 24 /CNW/ - Star Navigation Systems Group Ltd. ('Star\nNavigation'), the developer of the In-Flight Safety Monitoring System(TM),\nconfirmed today that its agreement with senior management exchanging shares\nfor outstanding management fees includes an undertaking that the common shares\nissued pursuant to the agreement will be held for a minimum of one year from\ndate of issue. The management fees in question were earned in 2002.\nStar Navigation also wishes to confirm that this extended hold period was\ninitiated by the senior management involved, and was not a condition required\nby the TSX-V.\nThe agreement is subject to TSX-V approval.\n\nCertain statements contained in this News Release constitute \nforward-looking statements. When used in this document, the words \"may\",\n\"would\", \"could\", \"will\" and similar expressions, as they relate to Star or\nits management are intended to identify forward-looking statements. Such\nstatements reflect Star's current views with respect to future events and are\nsubject to certain risks, uncertainties and assumptions. Many factors could\ncause Star's actual performance or achievements to vary from those described\nherein. Should one or more of these factors or uncertainties materialize, or\nshould assumptions underlying forward-looking statements prove incorrect,\nactual results may vary materially from those described herein as intended,\nplanned, anticipated, believed, estimated or expected. Star does not assume\nany obligation to update these forward-looking statements.\n\nThe TSX Venture Exchange has not reviewed and does not accept\nresponsibility for the adequacy or accuracy of this press release.\n\n%SEDAR: 00009078E\n\n\n","length":1802,"tagName":"div"}]