DALLAS, Dec. 19, 2017 (GLOBE NEWSWIRE) -- 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.
Shareholders,
I am pleased to report that we've been able to generate great momentum as a fundamental business in 2017. We were able to
capitalize on tornado and hail damage with our subsidiary Victura Roofing while also establishing additional revenue streams within
the cannabis sector by constructing mobile extraction laboratories and providing industry agnostic construction services within the
cannabis sector.
We believe that with the rollout of BudCube Cultivation Systems Technology and leasing centers, and additional solid niche
opportunities within the cannabis sector, we are now poised to make substantial progress in 2018 which will further enhance value
for our shareholders," said CEO Patrick Johnson.
Corporate Updates:
Audit
The company recently lost is auditor to resignation due to the sale of their practice. The company is in negotiations to
retain another audit firm and plans to do so as soon as practicable.
S-1 Registration Statement
Legal Counsel has completed the draft of the S-1 Registration Statement, and the company intends to file the statement once
approved for OTCQB.
Debt Reduction
Cherubim Interests has been able to successfully retire both affiliate and non-affiliate debt from the company's balance sheet.
Since 2015 the company has successfully eliminated over $2,000,000 of affiliate and non-affiliate debt from the company's books and
is currently in negotiations to restructure the remaining $245,000 of toxic debt to better manage further dilution over the market.
The company will also seek to write off over $500,000 of unclaimed debt that has been on the company’s books since 2006 in
the first quarter of 2018.
Victura Roofing
The Company has significantly scaled back its roofing operations in order to drastically decrease the company’s expenses, and to
streamline its operational focus to cannabis sector related construction opportunities in 2018.
BudCube Cultivation Systems
The company has acquired its Flagship location to deploy its BudCube Cultivation Systems technology and hybrid business concept.
The property, located in Lowell, Oregon, will serve as the company's flagship leasing center, comprising of more than twenty acres
zoned F2 or Impacted Forest Land. F2 zoned property is primarily resource land to be used for forestry, agriculture and
related activities. The company expects to implement the grand opening of the BudCube Cultivation Systems (BCS) "Cultivation
Center" business concept in 2018.
The property is located across the street from Fall Creek Farm and Nursery, the world's leading blueberry nursery stock and
breeding company, providing the industry's best blueberry genetics, plants & technical support to commercial fruit growers around
the globe and situated less than twenty minutes from Interstate-5 freeway, one of the largest major interstate roadways in the
United States.
BudCube Construction Services
The Company executed a construction management agreement with GreenPhoria Farms to perform industry-agnostic tenant finish out
services. GreenPhoria Farms is a cannabis producer with twelve proprietary strains and over 30 years of cultivation expertise
in the industry. The company currently has approximately 20,000 sq. feet under lease in Hillsboro, Oregon, and intends
to introduce its proprietary strains to the industry in 2018. The company is also currently in negations with other cannabis
farmers in the region and expects to finalize additional contracts in early 2018.
Mobile Testing and Extraction Laboratories (Port O Lab)
The company constructed and deployed a fully functioning laboratory grade extraction facility to the University of The West Indies
in 2017. The state-of-the-art turnkey facility enables end users to process plants for terpenes and other compounds. The company
expects to begin actively marketing for the additional sale of these units in early 2018.
Go Forward Strategy
The 'go forward' strategy is to continue to increase and add revenue through our cannabis focused general construction and the BCS
business concept, 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 has been able to add revenues to the company’s bottom line, streamline our operational focus as well as position
itself to have a very prosperous 2018. I 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.
Warm Regards,
Patrick Johnson
CEO
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.
Patrick Johnson
844-842-8872
