Toronto, Ontario--(Newsfile Corp. - May 26, 2026) - Cathedra Bitcoin Inc. (TSXV: CBIT) (OTCQB: CBTTF) (the "Company" or "Cathedra"), further to the Company's news releases dated March 5, 2026, May 4, 2026 and May 15, 2026, today announced that it has obtained a final order (the "Final Order") from the Supreme Court of British Columbia approving the statutory plan of arrangement (the "Transaction") with Sphere 3D Corp. ("Sphere"). The Final Order represents the last major approval required to complete the Transaction.
Cathedra securityholders approved the Transaction with 99.95% of votes cast in favor at the special meeting held on May 15, 2026; a level of support management views as a strong endorsement of the strategic rationale for the combination.
The Transaction is expected to close on June 1, 2026, subject to the satisfaction or waiver of certain other customary closing conditions. The Company has applied to the TSX Venture Exchange (the "TSXV") to delist its subordinate voting shares from trading on the TSXV following the closing of the Transaction. Cathedra expects to request that trading in its subordinate voting shares be halted after market close on Friday, May 29, 2026.
Further details regarding the Transaction are set out in the management information circular of Cathedra dated April 2, 2026, which is available on SEDAR+ (www.sedarplus.ca) under Cathedra's issuer profile.
Upon closing, Cathedra will become a wholly-owned subsidiary of Sphere, and the combined company's shares will continue to trade on the Nasdaq Capital Market under the symbol "ANY." The combination brings together Cathedra's portfolio of owned and operated power infrastructure across the TVA service territory with Sphere's Nasdaq listing, capital markets access, and additional infrastructure assets in Iowa; positioning the combined company to pursue the scalable, modular deployment of compute infrastructure across North America. The combined company will be led by Joel Block as Chief Executive Officer and Kurt Kalbfleisch as Chief Financial Officer.
"Receiving the Final Order clears the path to completing a transaction that fundamentally repositions both companies for the next chapter of digital infrastructure," said Joel Block, Chief Executive Officer of Cathedra and incoming Chief Executive Officer of the combined company. "We are grateful for the overwhelming support of our securityholders. The combined company will operate a multi-region power infrastructure base and is led by a team built specifically for the structurally complex deals defining this cycle, with a long track record of building and growing businesses in dynamic and constantly changing environments. Our focus from day one is disciplined execution against an opportunity set that did not exist for either company independently."
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