Cherubim Interests, Inc. and Major Debt Holders Agree to Convert to Preferred Stock

BEDFORD, TX / ACCESSWIRE / November 18, 2015 / Cherubim Interests, Inc. (“CHIT”) (OTC: CHIT) is pleased to announce that multiple major debt holders of CHIT have agreed to convert USD $506,806.96 of debt currently on the balance sheet to Series B Convertible Preferred Stock at a price of $2.50 per share. These supporters have been invested in the Company for some time now and were pleased to show additional support.

“By cleaning up the balance sheet and creating equity for the company, we are delivering on our promise to shareholders to make bold and significant improvements to our bottom line,” says Cherubim Interests CEO Patrick Johnson. “By eliminating over a half-million dollars in debt, the Company passes an important milestone on its journey toward meeting the $4 million shareholder equity threshold, which in turn helps in achieving all qualifications for listing on the NYSE Markets. This is just one of several important, strategic financial transactions that will enhance the Company’s position going forward.”

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.

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.

For more information please contact:

Cherubim Interests, Inc.
Patrick J. Johnson
Chief Executive Officer
(844) 842-8872
pjohnson@cherubiminterests.com

SOURCE: Cherubim Interests, Inc.

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