Toronto, Ontario--(Newsfile Corp. - October 8, 2020) - Sphere 3D Corp. (NASDAQ: ANY) (the "Company" or "Sphere 3D") reports that it's merger target,- Rainmaker Worldwide Inc. (OTC: RAKR), today announced a Joint Venture ("JV") with the Carlaw Group Ltd. ("Carlaw").
Carlaw and partners have been operating mission critical infrastructure projects in Africa since 2006. This expertise will complement Rainmaker as it deploys its innovative Air-to-Water technology to bring water on-demand to communities lacking access to environmentally safe drinking water.
The JV will establish a subsidiary in Africa with a 51%/49% ownership Rainmaker/Carlaw that will implement Water-as-a-Service (WaaS) solutions in Kenya, Senegal, Sierra Leone and Togo. It will establish an urban initiative to work closely with the private sector and global humanitarian organizations to identify the areas experiencing severe water scarcity and then define appropriate and innovative solutions.
Full details of today's press release from Rainmaker can be found here. https://rainmakerww.com/category/press-releases/
About Sphere 3D
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.
Rainmaker Investor Contact:
The Blueshirt Group
+1 (415) 489-2188
Safe Harbor Statement:
This press release contains forward-looking statements that involve risks, uncertainties, and assumptions that are difficult to predict. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of risks and uncertainties including, without limitation, our inability to obtain additional debt or equity financing; any increase in our cash needs; the Company's ability to maintain listing with the NASDAQ Capital Market; market adoption and performance of our products; the level of success of our collaborations and business partnerships; possible actions by customers, partners, suppliers, competitors or regulatory authorities; and other risks detailed from time to time in our periodic reports and other filings with the United States Securities and Exchange Commission (www.sec.gov) and with Canadian securities regulators (www.sedar.com). Sphere 3D undertakes no obligation to update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/65514