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| Home : Star Navigation Announces Completion of First Tranche of Private Placement |
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Jul 21
2015 |
Star Navigation Announces Completion of First Tranche of Private Placement |
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TORONTO, ONTARIO--(Marketwired - July 20, 2015) - Star Navigation Systems Group Ltd. (TSX VENTURE:SNA)(OTCBB:SNAVF) ("Star" or the "Company") is pleased to announce that it has closed the first tranche of a non-brokered private placement, having issued 5,000,000 units of the Company (the "Units") at a price per Unit of $0.05 for gross proceeds of $250,000. Each Unit consists of one common share in the capital of the Company and one warrant. One-half (1/2) of the number of warrants acquired entitle the holder to purchase one (1) additional common share of the Corporation at six ($0.06) cents per warrant exercised and the remaining one-half (1/2) of the warrants entitle the holder to purchase one additional common share of the Corporation at twelve ($0.12) cents per warrant exercised. The warrants are exercisable during the two (2) year period from the date of issue. |
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| Source:http://www.marketwired.com/mw/release.do?id=2040048&sourceType=3 |
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