xG Technology Inc. Production run of xMax equipment completed (0618N)
September 03 2013 - 9:30AM
UK Regulatory
TIDMXGT TIDMXGTU
RNS Number : 0618N
xG Technology Inc.
03 September 2013
xG TECHNOLOGY COMPLETES PRODUCTION RUN OF
xMAX COGNITVE RADIO NETWORKING EQUIPMENT
Company Validates Procedures for Volume Manufacturing and
Quality Control
Sarasota, Florida-September 3, 2013-xG Technology, Inc. ("xG" or
the "Company") (Nasdaq: XGTI, XGTIW; AIM: XGTU.L, XGT.L), a
developer of wireless communications and spectrum sharing
technologies, today announced that it has completed a production
run of xMax(R) cognitive mobile broadband networking equipment. The
equipment was completed in-house to validate circuit board
assemblies from key contract suppliers, final assembly,
configuration and testing methods prior to releasing volume build
orders to other contract manufacturers. The units produced will be
used to support an upcoming beta network deployment, as well as for
sales demonstrations to new and existing xG customers.
Successful manufacture of these devices has enabled xG to
perform in-depth quality assurance testing on all phases of
production and refine the build process to ensure field-ready
reliability.
"Completing this production run of xMax equipment corroborates
the confidence we have in our product and supply-chain quality,"
said John Coleman, CEO of xG Technology. "Achievement of this vital
step in readying our xMax cognitive mobile broadband solution for
widespread commercial distribution also serves the dual purpose of
helping to ensure xG's products meet the exceptional quality and
usability expectations of our customers."
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 a last-mile solution in a number of markets and applications.
xMax leverages Software Defined Radio (SDR) technology that enables
it to exploit licensed, unlicensed and shared spectrum. The
Company's products have been tested and trialed at two U.S. Army
bases, at rural telecom provider, and in an urban/suburban mobile
data and VoIP network in Fort Lauderdale, Florida.
END
Contacts
xG Technology, Inc. www.xgtechnology.com
John Coleman, Chief Executive
Officer +1 212 651 4219
Roger Branton, Chief Financial
Officer +1 212 651 4219
James Woodyatt, Investor
Relations +1 954 572 0395
Allenby Capital Limited www.allenbycapital.com
(Nominated Adviser and Joint
Broker)
Nick Naylor +44 20 3328 5656
Mark Connelly +44 20 3328 5656
First Columbus LLP (Joint www.first-columbus.com
Broker)
Chris Crawford +44 20 3002 2070
Fusion PR (Media and Analyst www.fusionpr.com
Relations)
David Worthington +1 212 651 4200
ABOUT XG TECHNOLOGY
xG Technology, Inc. develops a broad portfolio of intellectual
property to make 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 over 60 U.S. and over 140
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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