Overland Storage Announces Sphere 3D Registration Statement Declared Effective By Securities And Exchange Commission

Overland Storage®, Inc.

, a trusted global provider of unified data management and data protection solutions across the data lifecycle, today announced that the Registration Statement on Form F-4/A registration statement filed by Sphere3D Corporation

(TSX VENTURE: ANY) has been declared effective by the Securities and Exchange Commission (SEC). Overland's board of directors previously unanimously adopted and approved an Agreement and Plan of Merger between Sphere3D and Overland Storage, and shareholders will be asked to approve the merger at a meeting of shareholders on November 28, 2014. Certain Overland Storage shareholders holding approximately 65% of the outstanding Overland shares have agreed, pursuant to voting agreements, to vote their shares in favor of the merger, and as a result Overland expects the merger to be approved at the shareholder meeting, and completed during the first week in December. The Notice to Shareholders and Proxy Statement relating to the shareholder meeting was filed with the SEC on November 7, 2014 and is posted at http://bit.ly/13Tr6z0.