DALLAS, TX--(Marketwired - Dec 15, 2016) - Cherubim Interests, Inc. (OTC PINK: CHIT) ("the Company"), an expansion-stage alternative construction and real estate development company, announces its year-end letter to shareholders.
Whilst developing our hybrid business model we initiated a stimulus program that was ultimately intended to enhance net stockholders' equity and serving as a playbook to attract and acquire investment and equity into Cherubim Interests Inc. Following this playbook, the company is delighted to provide an update on our progress and ongoing quest for added corporate and shareholder value.
We successfully acquired vital revenue producing asset Victura Roofing LLC, which jumpstarted our roofing footprint in the DFW Metroplex while also unlocking an immediate expansion opportunity into the Oklahoma City region with the acquisition of Cherubim Builders Group LLC (Oklahoma). The company looks to begin expansion into the OKC region once storm season approaches in early 2017. Since the acquisition of Victura Roofing in March of 2015, the company has added a very strong cash flow to our balance sheet of over Two-Million ($2,000,000) USD.
Real Estate Development
Cherubim Inc. has also identified and subsequently put under contract to purchase real estate in Eugene, Oregon. This will thus be utilized to implement the grand opening of BudCube Cultivation Systems (BCS) "Cultivation Center" business concept in 2017.
We have subcontracted two large-loss residential reconstruction projects totaling in excess of $400,000 USD, formed a strong partnership with United Cannabis Corp in order to design, construct and deploy mobile extraction laboratories to service the cannabis sector, and executed a Letter of Intent with Sperry Van Ness/TJF Investments.
Mobile Testing and Extraction Laboratories
The companies expect to begin construction and assembly of the laboratories in the coming weeks, and should begin shipping the first units by year-end.
Earnest Blackmon, United Cannabis' Chief Executive Officer, said of the announcement, "The opportunity to partner with BudCube is one we couldn't pass up. We leveraged their construction experience with our cultivation and processing expertise to design a fully functioning laboratory grade facility that fits in a mobile trailer. The end result is a product that not only serves our needs, but also serves a growing demand within the industry."
Blackmon went on to say, "We've spent the past year doing the groundwork, establishing relationships and securing the necessary licenses and permits to launch our operation in Jamaica with our partner CRD, and this mobile extraction lab will give us the platform we need to initiate the project. Once it's delivered, we'll have a state-of-the-art turnkey facility that will enable us to begin processing plants for terpenes and other compounds, all of which will set us up to manufacture our Prana line and Blue River Extracts products for distribution across Jamaica."
Sperry Van Ness / TJF Joint Venture
Cherubim Interests Inc. has executed a Letter of Intent with Sperry Van Ness | TJF Investments. The companies are engaged in a promising joint venture within the Dallas/Fort Worth Metroplex which will ultimately develop, construct, and lease several yet to be determined single-family residences which will then be divested to a pre-determined purchaser for amounts based on cap rates conducive to their respective geographic areas.
S-1 Registration Statement
On November 22, 2016 the company entered an Investment Agreement with Tangiers Global, LLC, in which Tangiers has agreed to purchase up to five million dollars ($5,000,000) of the Company's common stock via S-1 registration statement. Legal is currently drafting all documentation and the company expects to begin the filing process in early 2017.
Cherubim Interests has been able to successfully retire both affiliate and non-affiliate debt from the company's balance sheet. Since May 31, 2015 the company has successfully eliminated over $2,000,000 of affiliate and non-affiliate debt from the company's books.
We have also created a series of Anti-Dilutive, Convertible Preferred Shares in order to protect our majority stakeholders. This move insulates them from past, present, or future dilution in the open market by providing these anti-dilutive securities as a dividend payment. We will be addressing the dividend for all shareholders of record early in the new year.
Cherubim is looking add the net equity necessary to uplist to either NYSEMKT or NASDAQ organically through its real estate development agenda, or by prospecting for acquisitions of assets via convertible preferred stock.
Go Forward Strategy
The 'go forward' strategy is to continue to increase and add revenue through our roofing and general construction business models, further develop the BCS business concept, and adding net-equity to the balance sheet organically or by acquisition being the final task before selecting the appropriate exchange and making application for uplist.
The company is happy to report on milestones that the company has acquired valuable construction assets which have added immediate revenue production, not to mention traditional insurance restoration opportunities which remain plentiful in our specific region. On a personal note I have to say I am delighted to address our valued shareholders on the above noted milestones and would like to take the opportunity of reiterating our genuine commitment to further strengthening the company and growing corporate equity. The company wishes all of its shareholders a warm and peaceful Happy Holiday and prosperous New Year.
IMPORTANT DISCLOSURE: Cherubim Interests, Inc. (OTC PINK: CHIT) and BudCube Cultivation Systems USA is planning execution of its stated business objectives in accordance with current understanding of State and Local Laws and Federal Enforcement Policies and Priorities as it relates to Marijuana (as outlined in the Justice Department's Cole Memo dated August 29, 2013), and plan to proceed cautiously with respect to legal and compliance issues. Potential investors and shareholders are cautioned that the companies will obtain advice of counsel prior to actualizing any portion of their business plan. Advice of counsel with regard to specific activities of the companies, Federal, State or Local legal action or changes in Federal Government Policy and/or State and Local Laws may adversely affect business operations and shareholder value.
About Cherubim Interests Inc.
Cherubim Interests specializes in alternative construction projects, as well as covering the entire spectrum of real estate development: due diligence, acquisition, planning, construction, renovation, and management; providing complete beginning-to-end development programs for mixed use, single, and multifamily projects and properties.
For more information, visit www.cherubiminterests.com
About Victura Roofing LLC.
Victura Roofing is led by industry professionals with a 20-year track record of success and a well-established platform for the expansion of market business opportunities in the Dallas/Ft. Worth Metroplex.
For more information, visit www.victuraroofing.com
About BudCube Cultivation Systems
BudCube Cultivation Systems developed a proprietary, fully portable and scalable, cultivation technology that serves as outdoor turn-key solution for cultivators of legal medical and recreational cannabis, as well as other various plant species. Coupled with real estate development and property management business model via parent company Cherubim interests Inc., The BudCube Cultivation Systems business model can be duplicated anywhere in the world where the cultivation of cannabis is legal.
For more information, visit www.budcube.com
Safe Harbor Statement
This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E and/or 27E of the Securities Exchange Act of 1934 that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company and the risks and uncertainties detailed from time to time in reports filed by the company with the Securities and Exchange Commission. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, the company's ability to raise necessary financing, retention of key personnel, timely delivery of inventory from the company's suppliers, timely product development, product acceptance, and the impact of competitive services and products, in addition to general economic risks and uncertainties.