Key Developments: Star Navigation Systems Group Ltd (SNAVF.PK)
0.10USD
7 May 2013
-- (+5.26%)
$0.09
$0.09
$0.10
$0.09
949,800
17,593
$0.10
$0.07
Latest Key Developments (Source: Significant Developments)
Star Navigation Systems Group Ltd Announces Completion of Private Placement
Star Navigation Systems Group Ltd announced that it has completed a non-brokered private placement of 10,030,000 units of the Company at a price per Unit of $0.10 (the "Units"), for gross proceeds totaling $1,003,000. The price was reserved with the TSX-V. Each Unit consists of one common share and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one common share of the Company (a "Warrant Share") at a price of $0.20 per Warrant Share for a term of 36 months from the closing date. Finder's fees on portions of the placement in the amount of $87,300 will be paid in Units. All securities issued in the Offering and any shares issued upon exercise of Warrants are subject to a four month statutory hold period from the date of issuance. The net proceeds of the placement will be used for research and development, marketing and general working capital purposes. Full Article
Star Navigation Systems Group Ltd Announces Completion of Private Placement
Star Navigation Systems Group Ltd announced that, subject to TSX-Venture Exchange (TSX-V) acceptance, Star has completed a non-brokered private placement of 26,100,000 units (the Units) of the Company at an issue price of $0.08 per Unit for gross proceeds totaling $2,088,000. The price was reserved with the TSX-V. Each Unit consists of one common share and one common share purchase warrant (a Warrant). Each Warrant entitles the holder to purchase one common share of the Company (a Warrant Share) at a price of $0.20 per Warrant Share for a term of 60 months from the closing date. Finder's fees in the amount of $189,850 will be paid in Units in connection with this private placement. All securities issued in the Offering and any shares issued upon exercise of Warrants are subject to a four month statutory hold period from the date of issuance. The net proceeds of the placement will be used for research and development, marketing and general working capital purposes. Full Article
FLYHT Aerospace Solutions Ltd. And Star Navigation Systems Group Ltd. Announce Settlement
FLYHT Aerospace Solutions Ltd. and Star Navigation Systems Group Ltd. announced that they have reached a full and final settlement of outstanding litigation between them, and that they have agreed to file dismissals of all outstanding claims and counterclaims. The parties (FLYHT Aerospace Solutions Ltd. (formerly AeroMechanical Services Ltd.), Star Navigation Systems Group Ltd., Star Navigation Systems Inc., Peter Verbeek, and Viraf Kapadia) have agreed to a dismissal of their existing litigation in Ontario on a without costs basis, with no admissions of liability. Full Article
Star Navigation Systems Group Ltd. And Astrium Services Announces Joint Agreement To Provide Airborne Data Services
Star Navigation Systems Group Ltd. announced that it has signed a formal agreement with an affiliated company of Astrium Services, Paradigm Services Limited (Astrium) to provide a one-stop-shop to market and sell a satellite communications data service to aviation companies. Astrium, a unit of the European Aeronautic Defence and Space Company (EADS), will be marketing the Airborne Data Service to aircraft manufacturers and airline operators worldwide, utilizing its expertise in secure Satcom, data handling, service delivery and satellite operations. Star, as the developer of the STAR-ISMS In-Flight Safety Monitoring System, will provide all airborne equipment, technical expertise and support services. Full Article
Star Navigation Systems Group Ltd. Announces Completion of Private Placement
Star Navigation Systems Group Ltd. announced that, subject to TSX-V acceptance, Star has completed a non-brokered private placement of 5,024,000 units (Units) of the Company at an issue price of $0.25 per Unit for gross proceeds totaling $1,266,000. The price was reserved with the TSX-V. Each Unit consists of one common share and one-half of one common share purchase warrant (Warrant). Each Warrant entitles the holder to purchase one common share of the Company (Warrant Share) at a price of $0.50 per Warrant Share for a term of 24 months from the closing date. Finder's fees in the amount of $125,600 will be paid in shares and warrants in connection with this private placement. All securities issued in the Offering and any Shares issued upon exercise of Warrants are subject to a four month statutory hold period from the date of issuance. The net proceeds of the placement will be used for research and development, marketing and general working capital purposes. Full Article
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