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SNA

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Share Name Share Symbol Market Type
TSXV:SNA TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Star Navigation Announces Amendments to Option Grants

07/05/2014 10:00pm

Marketwired Canada


Star Navigation Systems Group Ltd. (TSX VENTURE:SNA) ("Star" or the "Company"),
is pleased to announce that that it has received TSX Venture Exchange ("TSX-V")
acceptance of amendments to existing stock option grants ( the "options") held
by certain officers and directors of the Company. The amendments extend the term
of the options, but do not change the exercise price, The new expiry dates of
the options range between January 1, 2016 to February 17, 2018. 


The Company also announces that, in accordance with its Compensation Policy, it
has received TSX-V acceptance of the amendment of the exercise price of certain
options previously granted to key employees of the Company. The options,
formerly exercisable at between $0.15 and $0.20 per common share, will now be
exercisable at $0.07 per common share. 


The Board of Directors of the Company utilizes stock options as long-term
incentives to certain directors, officers, employees and consultants of the
Company as part of its overall strategy. The Compensation and Corporate
Governance Committee of the Board of Directors believes that stock option grants
serve the Company's compensation philosophy in two ways: firstly, it helps
attract, retain, and motivate talent; secondly, it aligns the interests of those
granted stock options with those of the shareholders by linking a specific
portion of that person's compensation to share price. 


About Star Navigation: (www.star-navigation.com)

Star Navigation Systems Group Ltd. owns the exclusive worldwide license to its
proprietary, patented In-flight Safety Monitoring System, STAR-ISMS(R), the
heart of the STAR-A.D.S. (TM) System. It is 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.


Star's MMI Division supplies mission critical displays to Star's MMI Division
designs and manufactures high performance mission critical flight deck, flat
panel displays for defence and commercial aviation industries worldwide. Some of
the Star MMI Division's current customers include;




--  Lockheed Martin - USA 
--  Raytheon - USA 
--  BAE - UK 
--  Jepico - Japan 
--  IRTS - France



Certain statements contained in this News Release may 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.


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 release.


Please visit www.star-navigation.com.

FOR FURTHER INFORMATION PLEASE CONTACT: 
Star Navigation Systems Group Ltd.
Viraf Kapadia
CEO
(416) 252-2889 Ext. 230
viraf.kapadia@star-navigation.com
www.star-navigation.com


Investor Relations:
Frontier Merchant Capital Group
info@frontiermcg.com


Public Relations & Media interviews:
Hudes Communications International
Nelson Hudes
(905) 660-9155
nelson@hudescommunications.com

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