Star Navigation Systems Group Ltd.

Star Navigation Systems Group Ltd.

May 11, 2017 09:57 ET

Star Navigation Announces Execution of Distribution Agreement in China

TORONTO, ONTARIO--(Marketwired - May 11, 2017) - Star Navigation Systems Group Ltd. (CSE:SNA)(CSE:SNA.CN)(CNSX:SNA)(OTCBB:SNAVF) ("Star" or the "Company"), and Tianjin Zhonglian Tiantong Space Technology Co. Ltd. ("ZLT"), are pleased to confirm the execution of a Products Distribution Agreement.

Under this agreement, ZLT will have exclusive rights in China to sell the STAR V-trk™ a real-time tracking, status reporting and analysis system which, due to its small form factor, was specifically tailored for helicopters, regional and business aircraft. Star will deliver the first STAR V-trk™ equipment to ZLT at end of summer 2017.

ZLT will also distribute and sell STAR M.M.I.™, displays and control panels for aerospace applications.

Over the next three years, both companies will jointly work on capturing specifically identified customers and users of the two product lines, which already include local airlines and aircraft retrofit centers.

ZLT will utilize the STAR V-trk™ and STAR M.M.I.™ products to complement their current offering of in-house airborne and ruggedized equipment developed around inertial reference and guidance, as well as other communication equipment and services.

This agreement completes Star's current marketing plan for the Chinese market, which was initiated with another local partner with the STAR T.T.T.™ tracking and telecommunication system.

Mr. Viraf S. Kapadia, CEO of Star said:

"We are delighted with this new opportunity to open new markets for two products at Star, the STAR V-trk™ and the STAR M.M.I.™, displays for retrofit and upgrade. ZLT will benefit from their already established relationship with aircraft and helicopter manufacturers, as well as modification centers locally. Having another solid partner for selling and supporting these products in the Chinese market was a major goal in our Asian approach."

About Star Navigation:

Star Navigation Systems Group Ltd. owns the exclusive worldwide license to its proprietary, patented In-flight Safety Monitoring System, STAR-ISMS®, the heart of the STAR-A.D.S.® System. Its 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 MMI Division designs and manufactures high performance, mission critical, flight deck flat panel displays for defence and commercial aviation industries worldwide.

About ZLT:

Tianjin Zhonglian Tiantong Space Technology Co. Ltd., founded in China in 2008, is engaged in research, development, production and sales of satellite navigation products, inertial navigation systems, fiber-optic gyroscopes and simulation systems. It offers comprehensive coverage (commercial and military market) of the inertial navigation, satellite navigation, and integrated navigation sectors with R & D and production capacity in its 180,000 sq. ft. manufacturing facility.

In addition, ZLT works closely with China's biggest aerospace university (BUAA-- Beijing University of Aeronautics and Astronautics) to develop new technology for aircraft navigation and CNS/ATM, etc.

Certain statements contained in this News Release constitute forward-looking statements. When used in this document, the words "may", "would", "could", "will" and similar expressions, as they relate to Star or its management 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. Many 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.

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