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    S3O   CA8551571034

STAR NAVIGATION SYSTEMS GROUP LTD.

(S3O)
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Star Navigation Announces Results of Annual and Special General Meeting

07/23/2021 | 05:55pm EDT

Brampton, Ontario--(Newsfile Corp. - July 23, 2021) - Star Navigation Systems Group Ltd. (CSE: SNA) (CSE: SNA.CN) ("Star" or the "Company") is pleased to announce that its Annual and Special General Meeting of shareholders was held on July 7, 2021.

The meeting was held virtually, without the physical presence of its shareholders, in accordance with measures adopted by the Company as part of the fight against COVID-19. All resolutions submitted to the shareholders were passed. Details of those resolutions can be found on SEDAR.

The following directors were elected:

Gurdip Panaich, Anoop Brar, Dr. Darren Milne, Ms. Pawandeep Athwal, Amir Bhatti and Karl Reichert.

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/91121


ę Newsfilecorp 2021
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Financials
Sales 2020 0,11 M 0,09 M 0,09 M
Net income 2020 -2,60 M -2,05 M -2,05 M
Net Debt 2020 3,21 M 2,53 M 2,53 M
P/E ratio 2020 -1,90x
Yield 2020 -
Capitalization 8,66 M 6,93 M 6,84 M
EV / Sales 2019 44,7x
EV / Sales 2020 95,0x
Nbr of Employees -
Free-Float 77,6%
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Managers and Directors
Amir Bhatti Chief Executive Officer
Randy Koroll Chief Financial Officer
Gurdip Panaich Chairman
Anoop Brar Chief Operating Officer & Director
Darrin T. Milne Director