TORONTO, March 21 /CNW/ - Star Navigation Systems Group Ltd. ("Star")
(TSX Venture: SNA), the developer of the In-Flight Safety Monitoring
System(TM) (ISMS(TM)), is pleased to announce the signing of an agreement with
its management to exchange common shares in Star for outstanding management
fees. The deemed price per share agreed upon is $0.27. When closed this will
result in the issuance of 1,683,622 shares with a hold of 120 days.
This agreement, finalized today, assists Star in making the most
productive use of resources. No new Control Person will be created by this
agreement, and the agreement is subject to approval by the TSX-V.
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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