TORONTO, Dec. 24, 2012 /CNW/ - This press release is being disseminated
as required by National Instrument 62‐103 The Early Warning System and Related Take Over Bids and Insider
Reporting Issues in connection with the filing of an early warning report (the "Early
Warning Report") regarding the acquisition of Sphere 3D Corporation (TSXV: ANY) (the "Company") securities by Mario Biasini of 240 Sabel Street,
Mississauga, Ontario, L6L 3W2.
As a result of the completion of a Qualifying Transaction (as such term
is defined in TSXV Exchange Policy 2.4) on December 21, 2012, whereby
T.B. Mining Ventures Inc. ("T.B. Mining" or the "Resulting Issuer") acquired all the issued and outstanding securities of Sphere 3D Inc.
("Sphere 3D") by way of a three cornered amalgamation of Sphere 3D and 8283729
Canada Inc., a wholly-owned subsidiary of T.B. Mining, and the shareholders of the
amalgamated company received shares of T.B. Mining (subsequently
renamed "Sphere 3D Corporation" upon filing of Articles of Amendment
dated December 20, 2012) (the "Transaction"), Mario Biasini became the owner of or exercised control over
2,746,429 common shares in the capital of the of the Company (inclusive
of 300,000 common shares held by Sandra Biasini, 300,000 common shares
held by Vanessa Biasini, and 1,000,000 common shares held by Promotion
Depot Inc., a company owned by Mr. Biasini).
As a result, Mr. Biasini and his affiliates beneficially own 2,746,429 common shares of the
Resulting Issuer, representing approximately 17.0% of the issued and
outstanding voting securities of the Company on a non‐diluted basis.
A copy of the Early Warning Report may be found on www.SEDAR.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Not for distribution to U.S. Newswire Services or for dissemination in
the United States. Any failure to comply with this restriction may
constitute a violation of U.S. securities laws.
SOURCE: Sphere 3D Corporation
For further information:
Chief Financial Officer
Sphere 3D Corporation
Phone: (416) 749-5999