BEDFORD, TX / ACCESSWIRE / December 7, 2015 / Cherubim Interests, Inc. (OTC: CHIT), (“the Company”) a development-stage alternative construction and real estate development company, have signed a Memorandum of Understanding with United Cannabis Corp. (CNAB) to supply, deploy and provide the technical means to cultivate cannabis.
“This industry is moving very rapidly,” states Patrick J. Johnson, CEO of Cherubim Interests, Inc. “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.”
The Memorandum of Understanding outlines a business model that CHIT and its subsidiary BudCube Cultivation Systems (“BCS”) is pioneering in the real estate development and medical as well as recreational cannabis cultivation industries. The Company 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.”
In exchange, United Cannabis Corp. agrees to provide to BudCube Cultivations Systems fee based consulting services including:
– Standard Operating Procedures
– 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.
“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.” Said CHIT CEO Patrick Johnson. “We no longer have to reinvent the wheel from a client servicing perspective as United Cannabis has already created that wheel.”
Cherubim Interests, Inc. (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 United Cannabis Corp.:
United Cannabis Corp. is a bio cannabinoid technologies company. It is built on scientific research, product development, and implementation of its proprietary cannabinoid therapy program. The company provides intellectual property, patent-pending technology, trusted brands, clinical data, technical training, sales tools and methodologies necessary to assist clients businesses. The intellectual property includes ACT Now Program which is a comprehensive full spectrum cannabinoid therapy guide that utilizes the entire cannabis plant by controlling specific cannabinoid ratios, accurate dosing and multiple non-invasive delivery methods. United Cannabis was founded on November 15, 2007 is headquartered in Denver, CO.