Sphere 3D Corp. Annual Filings Update

Toronto, Ontario--(Newsfile Corp. - March 30, 2020) - Sphere 3D Corp. (NASDAQ: ANY) (the "Company" or "Sphere"), a company delivering containerization, virtualization, and data management solutions, today announced that it will be delaying the filing of its annual financial statements and accompanying management's discussion and analysis, and related CEO and CFO certifications for the financial year ended December 31, 2019 (collectively "Annual Filings").

On March 18, 2020, the Canadian Securities Administrators ("CSA") announced that they will provide issuers with a 45-day filing extension for filings required on or before June 1, 2020 to allow issuers the time needed to focus on the many other business and financial reporting implications of COVID-19. Sphere will rely on this exemption with respect to its Annual Filings in accordance with Ontario Instrument 51-502, Temporary Exemption from Certain Corporate Finance Requirements. The Company is continuing to work diligently and expeditiously to file the Annual Filings no later than May 14, 2020. In the interim, management and other insiders of the Company are subject to a trading black-out policy that reflects the principles in section 9 of National Policy 11-207, Failure to-File Cease Trade Orders and Revocations in Multiple Jurisdictions. The Company confirms that since the filing of its interim financial statements for the three months ended September 30, 2019, there have been no material business developments other than those disclosed in public filings.

Sphere 3D Corp. (NASDAQ: ANY) delivers containerization, virtualization, and data management solutions via hybrid cloud, cloud and on-premise implementations through its global reseller network and professional services organization. Sphere 3D has a portfolio of brands, including HVE ConneXions, UCX ConneXions, and SnapServer® dedicated to helping customers achieve their IT goals. For more information, visit www.sphere3d.com. Follow us on Twitter @Sphere3D and @HVEconneXions

Disclosure

This press release contains forward-looking information within the meaning of Canadian securities laws. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.

Forward looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, forecast, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking information as a result of various factors, including, but not limited to: the state of the financial markets for the Company's equity securities; recent market volatility; the Company's ability to raise the necessary capital or to be fully able to implement its business strategies; the risks identified in the Filing Statement, and other risks and factors that the Company is unaware of at this time. The reader is referred to the most recent annual and interim Management's Discussion and Analysis for a more complete discussion of such risk factors and their potential effects, copies of which may be accessed through the Company page on SEDAR at www.sedar.com

Kurt Kalbfleisch
858-495-4211

NOT FOR DISTRIBUTION TO US WIRE SERVICES. FOR CANADIAN DISTRIBUTION ONLY.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/53913

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