Cherubim Interests, Inc. (OTC: CHIT) is strategically
positioned to realize considerable growth in the months to come, and the
company is now making efforts to reward the loyal shareholders who have
supported it throughout its transitional phases. As part of these efforts,
Cherubim recently announced its inaugural convertible preferred stock dividend,
which is intended benefit shareholders of record as of December 31, 2015.
Following the cutoff date, the company plans to issue one restricted preferred
share of Cherubim Interests for every 100,000 shares held. The company will
also issue fractional shares for investors who have purchased less than 100,000
shares.
“This announcement and impending issuance will help those
that have seen the dilution in the open market affect their cost average,”
Patrick Johnson, chief executive officer of Cherubim, stated in a news release.
“Issuing anti-dilutive convertible preferred securities to stockholders as
dividends also ensures that they will not be impacted by third-party debt
conversions.”
The dividend announcement came just a day after Cherubim
signed a memorandum of understanding with United Cannabis Corp. (OTC: CNAB)
outlining plans to supply, deploy and provide the technical means to cultivate
cannabis. Through subsidiary BudCube Cultivation Systems (BCS), Cherubim will
seek to provide the capital investment needed to cover real estate purchases,
improvements, construction and deployment for rental locations. After Cherubim
delivers, installs and connects the necessary modules to promote cannabis
cultivation, CNAB will provide fee-based consulting services on a variety of
topics – including standard operating procedures, cultivation, inventory
control and management systems, genetics counseling and testing procedures,
extract processing and equipment design and proprietary product lines.
By gaining access to CNAB’s existing industry relationships
and expertise, Cherubim greatly accelerated its timeline. According to Johnson,
the company is now a year or more ahead of its original schedule, and CNAB’s
data regarding client servicing is expected to play a key role as Cherubim
seeks to promote sustainable growth moving forward.
Cherubim specializes in alternative construction projects by
covering the full spectrum of real estate development. The company’s
subsidiary, BCS, has developed a fully portable and scalable method of
cultivating cannabis, as well as many other plant species, in a diverse range
of climate conditions. Cherubim is currently leveraging a unique business model
that combines these two fields by developing modular, turn-key cultivation
facilities that can be leased to both upstart and established cultivators.
For more information, visit www.cherubiminterests.com
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