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To: Rocket Red who wrote (145162)5/15/2014 8:04:01 PM
From: Goose94  Respond to of 233883
 
FAT got the munchies... Far Resources (FAT-CSE) mulls expansion into marijuana industry

May 15, '14 - NR

Far Resources Ltd. management is currently evaluating new opportunities within the medical marijuana industry with a view to diversifying its business projects.Recent changes to legislation in Canada now require all medical marihuana to be produced by licensed commercial operators under the Marihuana for Medical Purposes Regulations and seek to prohibit previously licensed individuals from growing medical marihuana in their homes. In the United States, medical marihuana is now legal in approximately 20 states, with Colorado and Washington state recently legalizing marihuana for recreational use.

Management is currently in discussions with a group of individuals experienced in the medical marihuana industry in Canada with a view to assisting the Company to obtain a license to commercially produce medical marihuana in Canada. However, the Company cautions these discussions are still in the preliminary stage and that, to date, no agreement, formal or otherwise, has been entered into by the Company. Furthermore, there are no assurances that the Company will be successful in negotiating an agreement with this group or others on commercially reasonable terms or at all or that the Company will be able to obtain the necessary licensing to commercially produce medical marihuana.

Although market conditions for junior resource issuers remain challenging, the Company intends to maintain its current portfolio of mineral resource properties and, subject to available financing, proceed with planned exploration work. Of the Company's resource properties, the focus is the Winston project in New Mexico, where check sampling by the Company in late 2013 confirmed the presence of significant silver and gold values in the Little Granite epithermal quartz vein system. There are no assurances that the Company will be able to raise the necessary financing to maintain and/or explore such properties on commercial reasonable terms or at all.

The technical content of this news release has been reviewed by Lindsay Bottomer, P.Geo., an independent director of the Company, who is a Qualified Person as defined in NI 43-101.



To: Rocket Red who wrote (145162)5/15/2014 10:06:40 PM
From: heinz44  Read Replies (1) | Respond to of 233883
 
any000Sphere 3D to acquire Overland for $81.13-million (U.S.)

2014-05-15 17:00 ET - News Release

Mr. Peter Tassiopoulos reports

SPHERE 3D AND OVERLAND STORAGE ENTER INTO DEFINITIVE MERGER AGREEMENT

Sphere 3D Corp. and Overland Storage Inc.'s boards of directors have unanimously approved a definitive merger agreement, under which the companies would combine to create a leading global virtualization and data management software solutions company. The name of the combined company will be Sphere 3D.

Under the terms of the merger agreement, each outstanding share of Overland common stock will be exchanged for 0.510594 common shares of Sphere 3D, subject to certain potential adjustments as set forth in the agreement. After completion of the transaction, it is expected that current holders of Overland shares will own approximately 28.8 per cent of Sphere 3D on a fully diluted basis as a result of their exchange of shares in the merger. Based on the closing sales price of Sphere 3D common shares on May 14, 2014, the last trading day prior to the announcement of the transaction on the TSX Venture Exchange, the total consideration payable to holders of Overland equity in the transaction has an implied value of approximately $81.13-million (U.S.), or approximately $4.43 (U.S.) per Overland share.

On May 14, 2014, the last trading day prior to the announcement of the transaction, the closing price of the Overland shares on the Nasdaq was $2.90 (U.S.) and the closing price of the Sphere 3D shares on the TSX-V was $9.46 (or $8.68 (U.S.)). The acquisition price represents a premium of approximately 53 per cent over the closing price of the Overland shares on the Nasdaq on the last trading day immediately preceding the announcement of the transaction and a premium of approximately 27 per cent over the weighted average trading price of the Overland shares on the Nasdaq and Sphere 3D on the TSX-V for the 30 trading days immediately preceding the announcement of the transaction.

Sphere 3D and Overland have been working in tandem to develop an integrated application virtualization and data storage platform, as well as a virtual desktop infrastructure (VDI) solutions, which are already installed at select strategic customers and partners. The application virtualization platform allows native third party applications to be delivered in the cloud or on premise on a multitude of end-point devices independent of their operating system. The VDI market, a key segment of the virtualization market, is estimated to be over $5-billion and growing 20 per cent annually, according to Frost & Sullivan. Through the combination, Sphere 3D will have greater financial and operational scale, and a large and well-established worldwide distribution network and tier one OEM partnerships.