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SOURCE xG Technology, Inc.
Calabrese, Gilmore and Schmitt to Take Active Role Providing the Company with Actionable Insights
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.
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