Jul 07, 2015
PORTLAND, OR / ACCESSWIRE / July 7, 2015 / Cherubim Interests Inc. (OTC: FCEND) (the “Company”), a development-stage alternative construction and real estate development company, is pleased to announce that it has entered into the Controlled Environment Agriculture Industry through the acquisition of an Exclusive Sub-Licensable, non-assignable, world-wide license.
The acquired license permits Cherubim Interests to deploy the proprietary, fully portable and scalable, self-contained Controlled Environment Agriculture Cultivation Facility on a First Right to Refusal Basis from Victura Construction Group, Inc. (OTC: VICT). The Cultivation Unit may be used for year-round plant cultivation in most climates as long as water and electricity are available. The exclusive license is also deemed irrevocable and perpetual except as otherwise set forth in the Agreement filed in the company’s recent Form 8-K.
The company, through its wholly-owned subsidiary BudCube Cultivation Systems USA, will be constructing, deploying and leasing scalable medical and recreational marijuana cultivation facilities for commercial applications in states where the consumption and cultivation of medical and/or recreational cannabis is legal.
“While observing the cannabis industry’s progression, with more and more states allowing for recreational or medical uses, we have been looking for an entry point for some time now and believe we’ve found our best entry point in the marketplace.” said CEO Patrick Johnson. “With the ability to lease a portable and scalable turn-key cultivation solution to growers, we believe our licensed solution can fill the gap for many who want to enter into the industry as first-timers, or experienced cultivators who do not have the capital resources to buy land, construct or tenant-improve existing structures for the optimum environment for developing a high-quality cannabis product.”
IMPORTANT DISCLOSURE: Cherubim Interests Inc. (OTC: FCEND) and BudCube Cultivation Systems USA is planning execution of 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 BudCube Cultivation Systems
BudCube Cultivation Systems USA (“BCS”), a wholly-owned subsidiary of Cherubim Interests Inc., constructs and markets a fully portable and scalable cultivation technology that serves as a turnkey solution for cultivators of legal medical and recreational cannabis, as well as any other plant species. Coupled with a real estate development and property management business model, BudCube Cultivation Systems can position itself anywhere in the world where the cultivation of cannabis is legal.
BCS provides cultivation solutions for commercial application. It offers cultivators quick entry into a fast-growing market at a price point that is very attractive when compared to the traditional construction solution. The company features a business model unparalleled in the industry, and stands to benefit greatly as more and more market participants seek to gain entry into this sector.
For more information, visit www.budcube.com.
About Cherubim Interests Inc.
More than a buyer, Cherubim Interests is led by highly experienced directors and a notable management team who are experts in their specific disciplines of property management, construction and finance. We are determined to build on our initial success and fulfill our vision to be a leader in alternative construction, as well as multi-family real estate development, management, and investment.
For more information, visit www.cherubiminterests.com
This press release contains forward-looking statements regarding future events and our future results that are subject to the safe harbors created under the Securities Act of 1933 (the “Securities Act”) and the Securities Exchange Act of 1934 (the “Exchange Act”). All statements other than statements of historical facts included in this report regarding our financial position, business strategy, plans and objectives of management for future operations, industry conditions, and indebtedness covenant compliance are forward-looking statements. When used in this report, forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “target,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may” or other words and similar expressions that convey the uncertainty of future events or outcomes. Items contemplating or making assumptions about, actual or potential future sales, market size, collaborations, and trends or operating results also constitute such forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties, and important factors (many of which are beyond our company’s control) that could cause actual results to differ materially from those set forth in the forward-looking statements, including the following: oil and gas prices, general economic or industry conditions, nationally and/or in the communities in which our company conducts business, changes in the interest rate environment, legislation or regulatory requirements, conditions of the securities markets, our access to capital, changes in accounting principles, policies or guidelines, financial or political instability, acts of war or terrorism, and other economic, competitive, governmental, regulatory and technical factors affecting our company’s operations, products, services and prices.
We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control.
Cherubim Interests Inc.
Patrick J. Johnson
Chief Executive Officer