Cherubim Interests, Inc. (CHIT) Rewarding Loyal Shareholders Cherubim Interests, Inc. (CHIT) Rewarding Loyal Shareholders with Convertible Preferred Stock Dividend
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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