Star Navigation Systems Group Ltd. announced further clarification on details of the binding letter of intent with S3iai Co. (S3iai), a high-tech Generative Artificial Intelligence (AI) company that was signed on February 26, 2024. Star will have approximately eight (8) months from the signing of the Binding Agreement to assess the progress of S3iai on the development of their Artificial Intelligence (AI) platform and to independently obtain a third-party valuation of the company before the end of the eight-month period before making any further investment decisions.

If the valuation of S3iai experiences exponential growth during this lock-up time frame and the valuation of S3iai changes positively, the Binding agreement allows Star to keep its locked in investment in S3iai at the initial price of USD 4,500,000.