SOURCE: Pink OTC Markets Inc.

April 23, 2009 08:31 ET

Proxim Wireless Joins OTCQX

NEW YORK, NY--(Marketwire - April 23, 2009) - Pink OTC Markets Inc., the leading electronic inter-dealer quotation system, trading technology and financial information provider for over-the-counter (OTC) securities, today announced that Proxim Wireless Corporation (OTCQX: PRXM), a leading provider of end-to-end broadband wireless systems, is now trading on OTCQX. Beginning today, investors can find current disclosure and financial information for Proxim Wireless on www.otcqx.com.

"Proxim Wireless has chosen to remain investor focused as they transition from NASDAQ by listing on OTCQX, which allows them to provide superior information and transparent trading on a quality controlled listing platform," said R. Cromwell Coulson, Chairman and CEO of Pink OTC Markets. "We are pleased to welcome Proxim to OTCQX."

B. Riley & Co. will act as the company's Investment Bank Designated Advisor for Disclosure (DAD). "Through both our investment banking and independent research activities, B. Riley has always been focused on companies that are proactive in maintaining good corporate governance and are sensitive to shareholder needs for transparency," said Bryant R. Riley, Chairman and CEO. "We are therefore pleased to act as Proxim's DAD on OTCQX. Our involvement as a DAD is aligned with our goals by helping companies understand their responsibility to shareholders through proper disclosure."

About Proxim Wireless Corporation

Proxim Wireless Corporation is a leading provider of end-to-end broadband wireless systems that deliver the quadruple play of voice, video, data and mobility to all organizations today. Our systems enable a variety of wireless applications including security and surveillance, VoIP, last mile access, enterprise LAN connectivity and Point-to-Point backhaul. We have shipped more than 1.8 million wireless devices to more than 235,000 customers in over 65 countries worldwide. Proxim is ISO-9001 certified. Information about Proxim can be found at www.proxim.com.

About B. Riley & Co.

Headquartered in Los Angeles, with offices in San Francisco, New York, Philadelphia and Newport Beach, B. Riley is a FINRA member firm providing research and trading ideas to institutional clients and high net worth individuals, and investment banking services to a wide range of middle-market private and public companies. Founded in 1997, the firm began by successfully targeting small capitalization California-based companies and has won a reputation for providing proprietary, unbiased and often contrarian Equity and High Yield research coverage of companies that are under-followed or misunderstood by Wall Street.

About OTCQX

The OTCQX marketplace is the premier tier of the U.S. over-the-counter market. Investor-focused companies use the quality controlled OTCQX listing platform to offer investors transparent trading, superior information, and easy access through their regulated U.S. broker-dealers. The innovative OTCQX platform offers companies and their shareholders a level of marketplace services formerly available only on a U.S. exchange.

About Pink OTC Markets Inc.

Pink OTC Markets Inc. provides the leading inter-dealer electronic quotation and trading system in the over-the-counter (OTC) securities market. Pink OTC Markets creates innovative technology and data solutions to efficiently connect market participants, improve price discovery, increase issuer disclosure, and better inform investors. Pink OTC Markets operates the third largest U.S. equity trading venue which includes both the elite OTCQX market tiers for strong OTC-traded companies that can satisfy financial and disclosure listing standards and Pink Sheets for all other OTC quoted securities.

To learn more about how Pink OTC Markets' products and services make OTC markets more transparent, informed, and efficient, please visit our websites at www.pinksheets.com and www.otcqx.com or contact us at info@pinkotc.com.

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