Sphere 3D and Overland Storage Enter Licensing and Supply Agreements to Deliver Secure Access to Native Applications and Data

Sphere 3D and Overland Storage Enter Licensing and Supply Agreements to
Deliver Secure Access to Native Applications and Data Management on Any Device

MISSISSAUGA, Ontario, July 16, 2013 (GLOBE NEWSWIRE) -- Sphere 3D Corporation
(TSX-V:ANY), developer of Glassware 2.0™ technology, today announced that in
partnership with Overland Storage, they have developed the first integrated
solution that delivers the full functionality of hardware, operating systems,
and applications via the cloud to any device.

The combination of Overland's data storage solutions, including its flagship
SnapScale, and Sphere 3D's Glassware 2.0™ virtualization solution, will enable
mobile device users the full functionality of any software program or
application on any device, anywhere, eliminating the application limitations,
data management and security problems for enterprises created by the BYOD
(Bring Your Own Device) phenomenon. Mobile users that need productivity
applications such as word processing, spreadsheets, presentations and
collaborations, specialized software for computer-aided design (CAD), magnetic
resonance imaging (MRI), software development, video production or customized
legacy applications can now experience full application functionality via the
cloud. A video presentation on this integrated solution may be viewed here:
http://youtu.be/0UuZBZ5KeF4

Business users today cannot truly be productive while on the go without access
to the full functionality of the business programs they utilize every day.
Additionally, security issues arise for enterprises when data is downloaded to
an unsecure personal mobile device, or transferred to cloud solutions out of
the enterprise's control, each of which presents critical concerns around the
ever-growing BYOD trend. When utilizing the Overland Storage cloud or
appliance coupled with Sphere 3D's Glassware 2.0™ technology, mobile business
users will be able to access the applications they want, along with the
corporate data they need, without any data ever leaving the security of the
enterprise.

"BYOD has achieved broad acceptance with 89% of organizations allowing their
employees to use their own mobile devices for work purposes, and in just six
countries (U.S., U.K., Germany, China, India and Brazil) the number of BYOD
devices is expected to double to 405 million by 2016 from 198 million in
2013," said Eric Kelly, President and CEO of Overland Storage. "This Sphere 3D
partnership has been a part of Overland's strategy for over a year and is key
to delivering on our vision of providing a global distributed enterprise
architecture that would give us access to one of the fastest growing markets."

"We are excited to combine our virtualization technology solution with
Overland's data storage expertise and to expand our offering beyond the
consumer to address the substantial enterprise opportunity," said Peter
Tassiopoulos, CEO of Sphere 3D. "Overland has been an innovator in data
storage for more than 30 years, and this partnership gives us access to their
robust channel of thousands of resellers in 60 different countries and an
installed base of more than 450 thousand."

As part of this strategic partnership, Overland and Sphere 3D have entered
into a Supplier Agreement whereby Sphere 3D will procure its cloud
infrastructure solutions from Overland, as well as a Technology Licensing
Agreement which grants Overland the licensing rights for the enterprise
market.

Pursuant to the Supplier Agreement, Sphere 3D has agreed to pay for up to $1.5
million of cloud infrastructure equipment in shares to Overland. The first
$500,000 has been satisfied through the issuance of 769,231 common shares of
Sphere 3D at an ascribed price of $0.65. Sphere shall pay an additional
$500,000 in common shares of Sphere 3D on each of the first and second
anniversaries of the agreement. The number of common shares to be issued shall
be calculated based on the 10 day average of the closing price per common
share of Sphere 3D ending 3 trading days prior to each of the anniversary
dates; up to a maximum of 769,231 common shares will be issued on each date.
Such Sphere 3D shares shall be subject to a four months and one day hold
period from the date of issuance in accordance with applicable Canadian
securities laws.

Pursuant to the Technology License Agreement, Sphere 3D shall license its
Glassware 2.0™ technology to Overland and grant Overland licensing rights for
the enterprise and business market. In return, Overland has agreed to pay
Sphere 3D an upfront fee and a royalty on future sales of licensed Sphere 3D
technology.

About Sphere 3D Corporation

Sphere 3D Corporation (TSX-V:ANY) is a Mississauga, Ontario based
virtualization technology solution provider whose patent pending Glassware
2.0™ technology makes it possible for incompatible devices and applications to
run over the cloud, without sacrificing performance or security. Sphere 3D's
Glassware 2.0™ ultra-thin client allows third parties to deliver fully
featured products to any cloud-connected device independent of operating
system or hardware. For additional information visit www.sphere3d.com or
access the Company's public filings at www.sedar.com

About Overland Storage

Overland Storage is the trusted global provider of effortless data management
and data protection solutions across the data lifecycle. By providing an
integrated range of technologies and services for primary, nearline, offline,
archival, and cloud data storage, Overland makes it easy and cost effective to
manage different tiers of information over time. Whether distributed data is
across the hall or across the globe, Overland enables companies to focus on
building their business instead of worrying about data growth. Overland
SnapScale, SnapServer, SnapSAN, NEO Series and REO Series solutions are
available through a select network of value added resellers and system
integrators. For more information, visit www.overlandstorage.com.

Connect with Overland Storage

Follow Overland on Twitter: www.twitter.com/OverlandStorage 
Visit Overland on
Facebook: www.facebook.com/OverlandStorage

Overland Storage, SnapScale, SnapServer, SnapSAN, NEO Series, REO Series and
the Overland logo are trademarks Overland Storage, Inc., that may be
registered in some jurisdictions. All other trademarks used are owned by their
respective owners.

Forward-Looking Statements

This release contains forward-looking statements. Forward-looking statements,
without limitation, may contain the words believes, expects, anticipates,
estimates, intends, plans, or similar expressions. Forward-looking statements
are not guarantees of future performance. They involve risks, uncertainties
and assumptions and actual results could differ materially from those
anticipated. Forward looking statements are based on the opinions and
estimates of management at the date the statements are made, and are subject
to a variety of risks and uncertainties and other factors that could cause
actual events or results to differ materially from those projected in the
forward-looking statements. In the context of any forward-looking information
please refer to risk factors detailed in, as well as other information
contained in the company's filings with Canadian securities regulators
(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.

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CONTACT: Sphere 3D Contact:
         Sphere 3D Corporation
         Peter Tassiopoulos Chief Executive Officer
         Tel: (416) 749-5999
         Peter.Tassiopoulos@Sphere3D.com
        
         Overland Investor Relations Contact:
         Todd Kehrli or Jim Byers
         MKR Group Inc.
         323-468-2300
         ovrl@mkr-group.com
 
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