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TORONTO, May 16 /CNW/ - Star Navigation Systems Group Ltd. ("Star"), (TSX.V: SNA) announced today that it has engaged Sutherland Communications Inc. ("Sutherland"), as its Investor Relations consultant. The initial term of the agreement is one year at a monthly fee of $4000. Sutherland has also been granted 350,000 options to purchase Star common shares at an exercise price of $0.15 per common share (the "Options"). The Options are subject to a four month hold period, and have been granted in accordance with the terms of the Company's 10% Rolling Stock Option Plan approved on December 18, 2006. The Options vest over a period of 12 months.
About Star Navigation...
Star Navigation Systems Group Ltd. (www.star-navigation.com) owns the worldwide license to its proprietary, patented In-flight Safety Monitoring System - ISMS(TM), 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 this press release.
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