TORONTO, ONTARIO--(Marketwired - Jan. 28, 2016) - Star Navigation Systems Group Ltd. (TSX VENTURE:SNA)(OTCBB:SNAVF) ("Star" or the "Company") announces that it intends to complete a non-brokered private placement (the "Offering"), to raise up to $1 million.

The Offering will issue up to 33,333,333 Units at a price per Unit of $0.03 and is being done under a waiver granted by the TSX Venture Exchange ("TSX-V"), pursuant to the Discretionary Waivers of $0.05 Minimum Pricing Requirement bulletin dated April 7, 2014. The waiver requires that the Offering raise a minimum of $882,000.

Each Unit will consist of one (1) common share and one common share purchase warrant ("Warrant"). Each Warrant will entitle the holder to acquire one common share at a price of $0.07 for a period of three years from the date of issue.

The net proceeds from the Offering are to be used for research and development and corporate overhead purposes. Star has agreed to pay finder's fees in the amount of ten (10%) percent of gross proceeds in cash, Units or in a combination of cash and Units. Any Units payable as finder's fees will be valued at $0.05 per Unit.

All securities issued in the Offering and any shares issued upon exercise of warrants are subject to a four month statutory hold period from the date of issuance. The financing is subject to the final approval of the TSX-V.

The proceeds from the private placement will be used by Star for working capital (6 months - $882,000 - payroll, leases, insurance, G&A), payables ($411,000), and short term debt repayment ($125,000), for a total of $1,481,000. There will be no related party payments.

Offsetting these expenses will be minimum estimated revenues amounting to over $420,000 in the next 6 months. This estimate is based upon orders already booked and customer order patterns.

Mr. Viraf S. Kapadia, CEO said,

"The past 15 months saw our revenues grow to over $1.1 million, compared with less than $100,000 per year previously. Based on current orders booked and customer order patterns, we expect sales for the next 12 months to reach $1.5 million."

The Company will update shareholders when the private placement has been completed and TSX-V final approval has been received.

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. It is the first system in the world to feature in-flight data-analysis, monitoring and diagnostics with a real-time connection between aircraft and ground. Its real-time capability of tracking performance trends and facilitating incident-occurrence prevention 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.

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 TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the content of this release.