Cherubim Interests Inc (CHIT)

[sweet crude]

NEWS: CHIT Residential Construction Project!!!

Cherubim Interests, Inc. Signs LOI to Construct Single-Family Residential Rental Properties

DALLAS, TX -- (Marketwired) -- 07/19/16 -- Cherubim Interests, Inc. (OTC PINK: CHIT) ("the Company"), an expansion-stage alternative construction and real estate development company, is pleased to announce that it has executed a Letter of Intent with SVN|TJF Investments. The Company and SVN|TJF Investments will work in a joint venture within the Dallas/Fort Worth Metroplex that will develop, construct, and lease a number of yet to be determined single-family residences that will then be divested to a pre-determined purchaser for amounts based on cap rates conducive to their respective geographic areas.

Cherubim Interests has agreed to:

Locate and manage a relationship within the Industry Sector to pre-lease and manage (the "Property Manager") any portion of the Business Model which has been completed, at industry standard rates, through the sale of the Commodity for the actual cost of required services and related expenses plus a 5% management fee;
Initiate communications and establish definitive relationships with all requisite Government Offices, Professional Personnel and Services related to the Business Model;
Locate and manage a developer to develop the land including all required engineering and permitting in accordance to the Business Model at industry standard rates through completion which would include any final inspections and approvals by the appropriate governing body for the actual cost of required services and related expenses plus a 5% management fee; and
Locate and manage a contractor to construct the residences, including all required Architectural Work, Engineering and Permitting in accordance to the Business Model at industry standard rates through completion, which would include any final inspections and approvals by the appropriate governing body for the actual cost of required services and related expenses plus a 5% management fee.

http://www.otcmarkets.com/stock/CHIT/news

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