Cherubim Interests, Inc. (CHIT) Inks MOU with United Cannabis to Facilitate Cannabis Cultivation

Cherubim Interests has signed a Memorandum of Understanding (MOU) with United Cannabis Corp. (CNAB) under which Cherubim will supply, deploy and provide the technical means to cultivate cannabis.

In exchange, United Cannabis Corp. agrees to provide to BudCube Cultivations Systems fee based consulting services including:

– Standard Operating Procedures

– Cultivation

– Inventory Control and Management Systems

– Genetics Counseling and Testing Procedures

– Extract Processing and Equipment Design, and

– Proprietary Product Line(s)

“We are excited to have Cherubim as a collaborative partner in the construction of cutting-edge laboratory and cultivation facilities. It’s another vital step in accomplishing our mission of providing cannabis based therapies to patients around the world,” stated Earnest Blackmon, CEO of United Cannabis Corp.

The MOU outlines a business model that Cherubim and its BudCube Cultivation Systems (“BCS”) subsidiary are pioneering in the real estate development and medical as well as recreational cannabis cultivation industries. Cherubim will lease modular turn-key cultivation facilities to new and existing market participants in a “mini-storage” or “co-op farming” scenario.

“First, we provide the necessary capital investment to cover any land purchase and improvements, as well as construction and deployment to location for leasing, These portable modules when combined, provide the floor space and square footage required for operations. We then deliver, install and connect the modules while providing standard operating procedures and ongoing maintenance as needed,” Cherubim CEO Patrick J. Johnson explained in the news release.

Though the cannabis/marijuana industry is rapidly growing in terms of public and legislative acceptance, vertical markets, and revenue opportunities, supply is falling short. Addressing this need is where Cherubim plans to lock-in its market position.

“As we see the front of legalization push across States and even into the platforms of the next presidential election, companies are scrambling to catch up. The market is there, the demand is high, but the supply from legal cultivators is low. Cherubim Interests and BudCube are uniquely positioned at this perfect apex of an emerging, billion dollar market; we are positioning ourselves to meet the impending demand by supplying the facility necessary to bring existing as well as start-up companies into full scale production in a matter of months,” said Johnson. “With their existing industry relationships and the services they offer, we believe that our relationship with United Cannabis puts us a year ahead of schedule or quite possible more. We no longer have to reinvent the wheel from a client servicing perspective as United Cannabis has already created that wheel.”

For more information, visit www.cherubiminterests.com

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