TORONTO, ONTARIO--(Aug. 31, 2015) - Star Navigation Systems Group Ltd. ($SNA:CA)($SNAVF) ("Star" or the "Company") is pleased to announce that, further to its June 29, 2015 announcement, its' STAR Man Machine Interface Division ("STAR-MMI") has received additional orders for upgrades of displays from three major Fortune 100 Aerospace Companies.
The value of the new orders received is C$175,000. This brings the total value of orders received by Star in the last 60 days to C$575,000. These orders began shipping in July and will continue to be shipped over the next few months.
These latest orders confirm the value of the MMI Division and its contribution towards achieving consistency in the Company's' revenues and cash flows.
The STAR-MMI Division began operations in April, 2014, and started receiving orders in October, 2014. Since then, the Company has received orders totalling in excess of C$1.375 million. Star's MMI Division designs and manufactures high performance, mission critical, flat panel displays for defence and commercial aviation industries worldwide.
About Star Navigation:
Star Navigation Systems Group Ltd. owns the exclusive worldwide license to its proprietary, patented In-flight Safety Monitoring System, STAR-ISMS®, the heart of the STAR-A.D.S. ™ 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 designs and manufactures high performance mission critical flight deck, flat panel displays for defence and commercial aviation industries worldwide.
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, except as required by law.
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.
Star Navigation Systems Group Ltd.
(416) 252-2889 Ext. 230
Frontier Merchant Capital Group
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