SNAVF - Star Navigation Announces Option Grants
Brampton, Ontario--(Newsfile Corp. - December 3, 2021) - Star Navigation Systems Group Ltd. (CSE: SNA) (CSE: SNA.CN) ("Star" or the "Company"), is pleased to announce that pursuant to its 2006 Incentive Stock Option Plan, as amended, effective December 2, 2021 the Board of Directors of the Company has approved the grant of incentive stock options to purchase 14,500,000 common shares in the capital stock of the Company to certain directors, officers, employees and consultants of the Company. The options expire December 2, 2026, are exercisable at $0.05 per common share, vest immediately and are subject to a four-month statutory hold from the date of grant.
The Board of Directors of the Company utilizes stock options as incentives to certain directors, officers, employees and consultants of the Company as part of its overall compensation strategy.
About Star Navigation:
Star Navigation Systems Group Ltd. has developed its proprietary, In-flight Safety Monitoring System, STAR-ISMS®, the heart of the STAR-A.D.S. ® System. The System's 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 M.M.I. Division designs and manufactures high performance, mission critical, flight deck flat panel displays for defence and commercial aviation industries worldwide. These displays are found on aircraft and simulators, from P-3 Orion and C-130 aircraft, to Sikorsky and Agusta Westland helicopters, as examples.
Certain statements contained in this Release constitute forward-looking statements. When used in this document, the words "may", "would", "could", "will", "expected", "intend" and similar expressions, as they relate to Star or its management or board 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.
The risks posed by the COVID-19 pandemic are real and substantial. Many other 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 the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of the content of this release.
Please visit www.star-navigation.com or contact
Mr. Amir Bhatti, CEO at 1-416-252-2889 #230 or amir.bhatti@star-navigation.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/106600