SARASOTA, Fla., Sept. 23, 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, is pleased to announce that Michael Calabrese, Dr. Chris Gilmore and George
Schmitt, Jr. have joined the Company's Advisory Board.
The xG Technology Advisory Board is comprised of distinguished
experts who provide valuable advice to the Company regarding
strategy, technology and markets. Advisory Board members possess
substantial experience in industry sectors that the Company
believes hold a significant opportunity for the xMax cognitive
radio solution, including rural telecom, public safety, security
and public utilities.
Michael Calabrese is director of
the Wireless Future Project, which is part of New America's Open
Technology Institute. He also serves as a senior research fellow
affiliated with the Asset Building Program. Mr. Calabrese
focuses on developing policies that promote pervasive connectivity,
including spectrum policy reform, mobile market competition,
wireless broadband deployment and IT investment and innovation more
broadly. He has served as an appointed member of the U.S.
Department of Commerce Spectrum Management Advisory Committee
(CSMAC) since 2009.
He also served as an invited expert on the President's Council
of Advisors on Science and Technology (PCAST) spectrum reform
working group during 2011-2012. The PCAST Report that was issued in
2012 advocated spectrum sharing and identified cognitive radio as a
technology that could make it a near term reality.
Dr. Chris Gilmore is CEO and
founder of Gilmore-Tragus Strategies (GTS), a nationally recognized
firm specializing in funding development and legislative relations
related to the deployment of voice and data communication
solutions. The company concentrates on unique funding opportunities
and developing regional coalitions for public safety agencies,
local and state governmental entities, educational institutions and
other private and nonprofit entities. Prior to founding GTS, Chris
generated millions of dollars in external funding for public safety
and other governmental clients in a multi-year engagement with
Motorola, Inc. In addition, he served in executive roles in state
government as special counsel to former Florida Governor Lawton Chiles and was Director of the Governor's
Commission on Community Service and Public/Private Partnerships. In
this capacity, he assisted Governor Chiles and national, state and
local agencies in a successful response to and recovery from
Hurricane Andrew.
George Schmitt, Jr. is President
and CEO of Cybergate Nevada, LLC, the parent/holding company for
Palm Aerospace. Palm Aerospace is a major Fort Myers, FL based aircraft parts supplier.
Previously, he was president of ReadyJetGo Airlines, a charter
airline company that flew custom-configured jets for the sports and
music industries. He also serves on the board of directors
(Executive Committee and Financial Planning) of The First Tee of
the Tri-Valley, a youth development program.
"We welcome the addition of Michael
Calabrese, Dr. Chris Gilmore
and George Schmitt, Jr. to the xG
Advisory Board," said Chris
Whiteley, xG Advisory Board Chairman. "xG is fortunate
to be able to attract individuals with the knowledge and record of
success that these new, and current members bring to the xG
advisory board."
Additional information about the xG Technology Advisory Board
can be viewed at this link.
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.
For More Information:
David Worthington
Fusion PR (Media and Analyst Relations)
www.fusionpr.com
(212) 651-4200
James Woodyatt
xG Technology, Inc (Investor Relations)
www.xgtechnology.com
(954) 572-0395
SOURCE xG Technology, Inc.