xG Technology Inc. Re Contract (2219V)
2013年12月11日 - 4:00PM
RNSを含む英国規制内ニュース (英語)
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RNS Number : 2219V
xG Technology Inc.
11 December 2013
December 11, 2013
xG Technology, Inc.
("xG", "xG Technology" or the "Company")
xG Technology to Ship xMax Network to Haxtun Telephone to
Fulfill Backlog
xG Technology (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 Telephone 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 Haxtun, 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.
Contacts:
xG Technology, Inc. www.xgtechnology.com
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 www.fusionpr.com
Relations)
David Worthington +1 212 651 4200
LHA (Investor Relations) www.lhai.com
Carolyn Capaccio +1 (212) 838-3777
ccapaccio@lhai.com
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 industrycaused 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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