Star Navigation Corporate Update
Star Navigation Systems Group, symbol SNAVF, has issued a corporate update highlighting several key sales activities in Africa. Captain Jonathan Kordich attended a Safety Conference in Ethiopia, leading to an invitation from the Ethiopian Aviation Group to participate in a tender for Ethiopian Airlines' Flight Data Monitoring procurement. The tender submission is due by June 26, 2024. Additionally, Star and FlightPath International have been invited to submit a high-level proposal in Ghana by the end of June, involving a job creation plan and technology center. They are also involved in a United Nations request for information on aircraft global tracking and flight data monitoring. Furthermore, strategic communications with Astral Aviation may lead to the installation of STAR-ISMS® on Astral's B767 aircraft in Nairobi, Kenya. Additional joint ventures and initiatives will be detailed in a corporate update expected by the end of July.
- Invitation by Ethiopian Aviation Group to tender for Ethiopian Airlines' FDM procurement.
- Potential for job creation and technology center in Ghana.
- Request for Information from the United Nations on aircraft global tracking and FDM.
- Reopened communication with Astral Aviation for STAR-ISMS® installation on a B767 in Kenya.
- Dependence on tender submissions and proposals with uncertain outcomes.
- Conditional nature of the Ghana technology center project on government commitments.
- Uncertainty surrounding further initiatives and joint ventures until the next corporate update.
Brampton, Ontario--(Newsfile Corp. - June 17, 2024) - Star Navigation Systems Group Ltd. (CSE: SNA) (CSE: SNA.CN) ("Star" or the "Company") and FlightPath International ("FPI") announce an update on Sales activities in Africa.
After Cpt. Jonathan Kordich attended a Safety Conference in Ethopia in May, FPI and Star have been invited by the Ethiopian Aviation Group ("EAG"), to participate in a Tender submission for Ethiopian Airlines for Flight Data Monitoring ("FDM") Procurement along with Boeing, Airbus and Rockwell-Collins. Star is confident that our system not only meets the FDM requirements but exceeds them too. Star will meet the tender submission date and will submit all required information by June 26th, 2024.
FPI and Star have been invited by the Ambassador of Ghana to Canada and the President of the Chamber of Commerce in Ghana, to submit a High-level Proposal by the end of June 2024. This will be followed by a visit to Ottawa in mid-July at the High Commission of Ghana. The proposal will include a job creation plan which will include opening a high-tech job centre in Ghana. This proposal will be conditional upon the Ghana government authorities mandating the STAR-ISMS® system in Ghana and some other procurement commitments by the government. This technology centre will include a training centre by FPI, a STAR-ISMS® assembly plant, an AI/AR technology platform development, training & implementation plan for hospitals & various other sectors, and an energy device (a thermo generator) manufacturing and assembly plant. Star and FPI will play a key role in setting up these collaborative efforts.
FPI and Star have been invited to submit a Request for Information (Technical & Financial) by the United Nations ("UN"), for Aircraft Global Tracking and Flight Data Monitoring. This request has been submitted and a Request for Proposal (RFI) from the UN is expected soon.
Cpt. Jonathan Kordich's strategic communication with the CEO of Astral Aviation ("Astral") has re-opened the door with Astral and Star is now awaiting confirmation by Astral for the availability of their first aircraft, a B767 to have the STAR-ISMS® installation completed in Nairobi, Kenya.
Star management has been working on several other initiative and joint-ventures. Further information will be provided on those initiatives in our next corporate update which is expected to be out toward the end of July.
About Star Navigation Systems - www.star-navigation.com
Star Navigation Systems Group Ltd. manufactures the In-flight Safety Monitoring System, STAR-ISMS®, the heart of the STAR-A.D.S.® System. The STAR-A.D.S.® System has real-time capability of tracking, performance trends and predicting incident-occurrences which enhances aviation safety and improves fleet management while reducing costs for the operator. Star's MMI Division (Military and Defence) designs and manufactures high performance, mission critical, flight deck flat panel displays for defence and commercial aviation industries worldwide.
Forward Looking Information
Certain statements in this news release may constitute "forward-looking statements". Forward-looking statements are statements that address or discuss activities, events or developments that Star expects or anticipates may occur in the future.
When used in this news release, words such as "estimates", "expects", "plans", "anticipates", "projects", "will", "believes", "intends" "should", "could", "may" and other similar terminology are intended to identify such forward-looking statements.
Forward-looking statements reflect the current expectations and beliefs of Star's management. Because forward-looking statements involve known and unknown risks, uncertainties and other factors, actual results, performance or achievements of Star or the industry may be materially different from those implied by such forward-looking statements.
Examples of such forward-looking information that may be contained in this news release include statements regarding; growth and future prospects of our business; our perceptions of the industry and markets in which we operate and anticipated trends in such markets; expectations regarding the operation of our app; and our future revenues.
Material factors or assumptions that were applied in drawing a conclusion or making an estimate set out in the forward-looking statements may include, but are not limited to, our ability to execute on our business plan, increase visibility amongst consumers and convert users to revenue producing subscribers and the success of the business of our partners. Forward-looking statements involve significant uncertainties, should not be read as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achieved.
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.
Accordingly, readers should exercise caution in relying upon forward-looking statements and Star undertakes no obligation to publicly revise them to reflect subsequent events or circumstances, except as required by law.
NEITHER CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CANADIAN SECURITIES EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Please visit www.star-navigation.com or contact
Randy Koroll, Chief Executive Officer at 1-416-252-2889 x228
randy.koroll@star-navigation.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/213258
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