- Star Navigation Systems Group (SNA) intends to issue 66,666,667 units at a price of $0.03 per unit
- Each unit consists of one common share and one warrant
- Net proceeds of the placement will be used for inventory, marketing and corporate overhead
- The offering is expected to close on December 15, 2021
- Star Navigation Systems’ in-flight Safety Monitoring System, STAR-ISMS® enhances aviation safety and improves fleet management while reducing costs for the operator
- Star Navigation Systems Group Ltd. (SNA) opened trading at C$0.045 per share
Star Navigation Systems Group (SNA) intends to issue 66,666,667 units at a price of $0.03 per unit.
Each unit consists of one common share and one warrant. Each warrant acquired entitles the holder to purchase one additional common share at $0.05 cents per warrant. The warrants are exercisable for a two-year period from the date of issue.
All securities issued and any shares issued upon exercise of warrants are subject to a four-month statutory hold period from the date of issuance.
The net proceeds of the placement will be used for inventory, marketing and corporate overhead.
Star has agreed to pay finder’s fees in the amount of 12 per cent of gross proceeds in units.
The offering is expected to close on December 15, 2021.
Star Navigation Systems Group Ltd. has developed its proprietary, In-flight Safety Monitoring System, STAR-ISMS®. The system’s capability for tracking real-time trends and predicting incident occurrences enhances aviation safety and improves fleet management while reducing costs for the operator.
Star’s M.M.I. Division designs and manufactures flight deck flat panel displays for defence and commercial aviation industries worldwide.
Star Navigation Systems Group Ltd. (SNA) opened trading at C$0.045 per share.
