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Still looks good to me. Got it last summer * .18 and still think it is a good long term buy.
TORONTO, Feb. 14 /CNW/ - Star Navigation Systems Group Ltd. ("Star Navigation") (TSX.V - SNA), is pleased to announce that the TSX Venture Exchange has accepted for filing the Company's 2006 Stock Option Plan (the "Plan"). The Company has therefore implemented a rolling stock option plan whereby a maximum of 10% of the Company's issued share capital at the time of grant is reserved for issuance under the Plan.
The Plan was described in the Company's Information Circular dated November 4, 2005(available on SEDAR at www.sedar.com) and approved by shareholders at the Company's Annual General and Special Meeting held on December 13, 2005. Currently outstanding options to purchase common shares of the Company will continue to be exercisable and will be governed by and subject to the terms of the Plan.
The company also announces it has granted 800,000 options at $0.30 per share with a term of 5 years to various officers of the Corporation.
About Star Navigation...
Star Navigation Systems Group Ltd. (www.star-navigation.com) owns the worldwide license to a product without peer, its proprietary, patented In-flight Safety Monitoring System - ISMS(TM), 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.
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.
50,780,284 shares outstanding.
%SEDAR: 00009078E
For further information: please contact: Derek Sutherland, Investor Relations, TEL (416) 832-0442, sutherland_derek*yahoo.com; Nelson Hudes, Media Relations, TEL (905) 660-9155, nelson*hudescommunications.com
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