CALGARY, ALBERTA and TORONTO, ONTARIO--(Marketwire -05/18/12)- FLYHT Aerospace Solutions Ltd. (formerly Aeromechanical Services Ltd.) (FLY.V) and Star Navigation Systems Group Ltd. (SNA.V) announce that they have reached a full and final settlement of outstanding litigation between them, and that they have agreed to file dismissals of all outstanding claims and counterclaims.
The parties (FLYHT Aerospace Solutions Ltd. (formerly Aeromechanical Services Ltd.), Star Navigation Systems Group Ltd., Star Navigation Systems Inc., Peter Verbeek, and Viraf Kapadia) have agreed to a dismissal of their existing litigation in Ontario on a without costs basis, with no admissions of liability.
About Star Navigation:
Star Navigation Systems Group Ltd. (www.star-navigation.com) owns the exclusive worldwide license to its proprietary, patented In-flight Safety Monitoring System, STAR-ISMS®, 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 predicting incident-occurrence enhances aviation safety and improves fleet management while reducing costs for the operator.
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.
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