Star Navigation appoints new director
Aug. 11, 2011, Toronto - Star Navigation Systems Group Ltd. is pleased to announce that, subject to TSX-V approval, it has retained First Canadian Capital Corp. to provide strategic marketing and investor relations services to the Company. FCC will introduce the Company to private investors, analysts, brokers, money managers and other financial professionals and will create general market awareness for Star.
The terms of the agreement are as follows: Duration – 12 months. Monthly Cash Compensation – $5,000. Stock Options – 500,000 shares at $CDN.25 per share, 250,000 shares at $CDN.30 per share. The options vest over a period of one (1) year.
The Company is very pleased to announce the appointment of Capt. Gus Nariman to fill a vacancy on the Board of Directors, subject to TSX-V approval. Captain Nariman brings to his position more than 40 years experience as a veteran of the aviation industry. In accordance with Company policy, Capt. Nariman has been granted 120,000 options to purchase common shares of the Company @ $0.20, vesting as to thirty (30,000) thousand options every four (4) months, subject to TSX-V approval. The options expire August 31, 2014.