SARASOTA, Fla., Dec. 10, 2013 /PRNewswire/ -- xG Technology,
Inc. ("xG" or the "Company") (Nasdaq: XGTI, XGTIW; AIM: XGTU.L,
XGT.L), a developer of wireless communications and spectrum sharing
technologies, will imminently ship a complete xMax broadband
cognitive radio network system to Haxtun Telephony Company
("Haxtun"), a Colorado-based rural telephone services
provider.
This shipment is expected to be completed within a week, and
will fulfill the existing order backlog with this customer. The
shipping estimate is based upon xG's current production ramp.
"This shipment of xMax wireless broadband services and solutions
to Haxtun's rural communities will
be xG's second delivery against our backlog," said John Coleman, CEO of xG Technology. "The xG team
is proud to be working with the Haxtun Telecom, professionals who
are dedicated to bringing new broadband services to their
customers. We remain focused on accelerating the execution of our
product, delivery and revenue plans, and are working with our
customers to prioritize shipments according to need and speed the
conversion of our backlog into revenue."
xMax is a comprehensive fixed and mobile broadband solution that
is designed for rapid deployment and low operating costs. It offers
a carrier-grade user experience and can serve as a network backbone
or last-mile solution for a number of markets and applications.
xMax leverages software defined radio (SDR) and cognitive
networking technology that enable efficient sharing of both
licensed and unlicensed spectrum.
Haxtun Telephone Company, established in 1900, serves over 1600
access lines across five counties in northeastern Colorado. It serves a rural economic base
centered on agriculture and is committed to providing its customers
with quality telecommunications services at reasonable prices.
About xG Technology
xG Technology has created a broad portfolio of intellectual
property that makes wireless networks more intelligent, accessible,
affordable and reliable. The company has created xMax, a patented
all-IP cognitive radio technology that enables spectrum sharing.
xMax can solve the crisis facing the wireless industry caused by
data-hungry devices and applications that are straining network
capacity. It eliminates the need to acquire scarce and expensive
licensed spectrum, thus lowering the total cost of ownership for
wireless broadband access. xG's goal is to help wireless broadband
network operators make more efficient use of their spectrum
allocations and to create new opportunities for innovation in
unlicensed spectrum. The xMax cognitive radio system incorporates
advanced optimizing technologies that include spectrum sharing,
interference mitigation and self-organizing networks. xG offers
solutions for numerous industries worldwide, including urban and
rural wireless broadband, utilities, defense, emergency response
and public safety.
Based in Sarasota, Florida, xG
has 60 U.S. and over 130 international patents and pending patent
applications, and its technology is available for licensing in both
domestic and foreign markets. xG is a publicly traded company
listed on the NASDAQ Capital Market and on the London Stock
Exchange's Alternative Investment Market (AIM). On the NASDAQ, xG
common stock is traded under the symbol XGTI and xG warrants are
traded under the symbol XGTIW. On the AIM, xG's unrestricted
shares trade under the stock symbol XGTU.L and xG's restricted 'Reg
S' shares trade under the stock symbol XGT.L.
For more information, please visit www.xgtechnology.com.
Cautionary Statement Regarding Forward Looking
Statements
Statements contained herein that are not based upon current or
historical fact are forward-looking in nature and constitute
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Such forward-looking statements reflect the Company's
expectations about its future operating results, performance and
opportunities that involve substantial risks and
uncertainties. These statements include but are not
limited to statements regarding the intended terms of the offering,
closing of the offering and use of any proceeds from the offering.
When used herein, the words "anticipate," "believe," "estimate,"
"upcoming," "plan," "target", "intend" and "expect" and similar
expressions, as they relate to xG Technology, Inc., its
subsidiaries, or its management, are intended to identify such
forward-looking statements. These forward-looking statements are
based on information currently available to the Company and are
subject to a number of risks, uncertainties, and other factors that
could cause the Company's actual results, performance, prospects,
and opportunities to differ materially from those expressed in, or
implied by, these forward-looking statements.
For More Information:
Media and Analyst Relations
David Worthington
Fusion PR
www.fusionpr.com
(212) 651-4200
Investor Relations
James
Woodyatt
xG Technology
www.xGtechnology.com
(954) 572-0395
Jody Burfening/Carolyn Capaccio
LHA
ccapaccio@lhai.com
(212) 838-3777
SOURCE xG Technology, Inc.