Star Appoints Interim CEO and Updates R&D TORONTO,
Post# of 301275
TORONTO, May 15, 2018 (GLOBE NEWSWIRE) -- Star Navigation Systems Group Ltd. (CSE:SNA) (OTCQB:SNAVF) ("Star” or the “Company”) announces that, due to medical issues, Mr. Viraf S. Kapadia, Chairman and CEO of the Company, is currently unable to carry out his duties as CEO. As Mr. Kapadia’s time of return to work is unknown at this point, the Board of Directors has appointed Mr. Jean-Louis Larmor as Interim CEO.
Mr. Larmor has been part of the Star management team for many years, serving as VP-Corporate Development in 2014 and as Chief Operating Officer since 2015.
Mr. Larmor has an extensive background in the aerospace industry, including:
- Director - Thales International Canada,
- Director Business Development – Aerospace, Thales International, North America,
- Vice President- Strategy and Business Development, Sextant Avionique,
- Marketing and Sales positions with Aerospatiale, France.
MEDEVAC R&D
Star is pleased to report that its’ Research and Development project relating to the application of the STAR-A.D.S. ® System to Emergency Medical Services (i.e. patient information transfer during medical transport by helicopters, planes or land vehicles), is now substantially completed. A demo system is running and will be presented to various EMS stakeholders in the coming weeks. This application, already covered by STAR patents, is the “In-Flight System Aided Medical Monitoring” System (“STAR-ISAMM™”) and builds upon the demonstrated capabilities of existing STAR equipment. STAR-ISAMM™ is able to transmit, in real-time, the digital bio-information of a patient being transported by an air ambulance, saving critical time and allowing paramedics to tend to the patient without the need to verbally update the hospital. This application will see its deployment for air as well as ground medical transport. Star Navigation is presently working on the necessary regulatory approvals.
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.
Stars’ M.M.I.™ Division designs and manufactures high performance, mission critical, flight deck flat panel displays for defence and commercial aviation industries worldwide. These displays are found on aircraft and simulators, from P-3 Orion and C-130 aircraft, to Sikorsky and AgustaWestland helicopters, as examples.
Certain statements contained in this News Release constitute forward-looking statements. When used in this document, the words “may”, “would”, “could”, “will”, “expected” 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.
Please visit www.star-navigation.com or
Jean-Louis Larmor, (416) 252-2889 Ext. 221
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