TORONTO, ONTARIO — (Marketwired) — 06/29/17 — This press release is being disseminated by MF Ventures, LLC (“MF Ventures”), as required by National Instrument 62-103 of the Canadian Securities Administrators in connection with the filing of an early warning report regarding the disposition of common shares (“Common Shares”) of Sphere 3D Corp. (“Sphere 3D”). MF Ventures is an independent investment firm.
From March 28, 2017, the date that MF Ventures filed its last early warning report, to June 28, 2017, MF Ventures disposed of 2,504,128 Common Shares through the facilities of the NASDAQ, which represented a 2.3% decreased in its ownership of Common Shares, for a total purchase price of $504,812.17 and an average price per Common Share of $0.20.
After giving effect to the transactions described above, MF Ventures holds 14,029,645 Common Shares and 25,380,087 Warrants (for a total of 39,409,741 Common Shares assuming the exercise of the Warrants), representing approximately 30.4% of the outstanding Common Shares (calculated on the basis of 129,540,735 Common Shares outstanding following the closing of the transaction, consisting of 104,160,648 outstanding Common Shares, and the Warrants held by MF Ventures). Prior to the transactions described above, MF Ventures held 16,533,782 Common Shares and 25,380,087 Warrants (for a total of 41,913,869 Common Shares assuming the exercise of the Warrants), representing approximately 32.8% of the outstanding Common Shares (calculated on the basis of 127,952,630 Common Shares outstanding prior the transactions described above, consisting of 102,572,543 outstanding Common Shares, and the Warrants held by MF Ventures prior to the transactions).
MF Ventures disposed of the Shares that are the subject of this report for investment purposes.
MF Ventures does not have current plans or future intentions which relate to, or would result in, any of the following:
Notwithstanding the foregoing, MF Ventures intends to review its investment on a regular basis and, as a result of such review, may determine at any time or from time to time:
Notwithstanding anything herein to the contrary, MF Ventures specifically reserves the right to change its intention with respect to any and all matters disclosed or referenced herein. In reaching any decision with respect to any course of action, MF Ventures expects it would take into consideration a variety of factors including, but not limited to, Sphere 3D–s business and prospects, other business opportunities available to MF Ventures, changes in applicable laws and regulations, general economic conditions, worldwide money and equity market conditions (including the market price of the securities of Sphere 3D), tax considerations, and any other factors deemed relevant.
Contacts:
Katharine Ryan-Weiss
MF Ventures, LLC
415.356.2500