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xG Technology Inc. (XGT)

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Tuesday 03 September, 2013

xG Technology Inc.

Production run of xMax equipment completed

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® 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.

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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 Broker)

www.first-columbus.com

Chris Crawford

+44 20 3002 2070



Fusion PR (Media and Analyst Relations)

www.fusionpr.com

 

 

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
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