xG Technology Announces Prominent Rural Telecommunications Industry Veteran Shirley Bloomfield Joins Its Advisory Board
xG to Benefit from Her Considerable Expertise and Perspective as it Creates Effective Solutions for Independent Providers
SARASOTA, Fla., Oct. 29, 2014 /PRNewswire/ -- xG Technology, Inc. ("xG" or the "Company") (Nasdaq: XGTI, XGTIW), a developer of wireless communications and spectrum sharing technologies, is pleased to announce that rural telecommunications industry veteran Shirley Bloomfield has joined the Company's Advisory Board.
During the course of her career, Shirley Bloomfield has led efforts to raise the visibility of the value and innovation of independent, rural telecom companies. Since 2010, she has served as CEO of the National Telecommunications Cooperative Association ("NTCA") – The Rural Broadband Association. Her leadership has been recognized as a significant factor in moving the organization forward in uncertain regulatory times. Her rural telecom knowledge, ability to build alliances and visionary drive have energized and advanced NTCA and the rural telecom industry.
Ms. Bloomfield served as the staff lead for the unification of the NTCA with the Organization for the Promotion and Advancement of Small Telecommunications Companies (OPASTCO). Working with the boards of directors of both organizations, she brought to fruition a combined industry organization that was years in the making. With the unification of the two leading industry organizations, she now leads a strengthened association that speaks with one voice on national issues related to rural telecommunications.
Ms. Bloomfield also serves as a board member of GlobalWin, an organization of women leaders in the high-tech industry. Through the organization, she participates in efforts to support and advance women in telecommunications through educational opportunities and networking. She serves as a mentor and advisor to those interested in developing their careers in telecommunications.
From her days as a congressional aide to her years as a lobbyist for NTCA, Qwest and Verizon, Ms. Bloomfield has developed expertise in understanding complex issues and advocating effectively on behalf of her constituency. She received her Bachelor of Arts degree in economics from Northwestern University and a master's degree in public administration from American University.
Commenting on the announcement, Shirley Bloomfield said, "As someone who has always been a staunch advocate for America's independent telecom companies and the critical role they play in our society, I welcome the opportunity to join the xG Technology Advisory Board. xG's unique wireless broadband technology has the ability to be instrumental in helping these providers create viable business cases for delivering market-leading mobile broadband wireless solutions to their subscribers. This, in turn, will help them remain profitable, independent, and at the cutting-edge of technology."
Commenting on the announcement, George Schmitt, Executive Chairman of the Board of xG Technology, said, "We are honored that Shirley Bloomfield has agreed to give us the benefit of her well-deserved reputation, considerable industry expertise and seasoned leadership by becoming a valued member of the xG Advisory Board. As we seek to aggressively move xG forward in key markets such as rural telecom, we will look forward to leveraging her unique vision, focus and wealth of experience to develop strategies that enable our technology offerings to develop compelling new business opportunities for today's telecom providers."
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 robust mobile broadband communications for private, consumer and government networks. 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 networks deliver voice, video and data services to fixed and mobile users. The xMax cognitive radio system incorporates advanced optimizing technologies that include spectrum sharing, interference mitigation, multiple-input multiple-output (MIMO) and software defined radio (SDR). These and other technologies make xMax ideal for wide area, as well as rapid emergency communication deployment. 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. xG is a publicly traded company listed on the NASDAQ Capital Market where xG common stock is traded under the symbol XGTI and xG warrants are traded under the symbol XGTIW. 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:
Media Relations
Daniel Carpini
xG Technology
[email protected]
(941) 953-9035
Investor and Analyst Relations
James Woodyatt
xG Technology
[email protected]
(954) 572-0395
Jody Burfening/Carolyn Capaccio
LHA
[email protected]
(212) 838-3777
SOURCE xG Technology, Inc.
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