CHIT Only 18M float and MJ stock!!
On September 9, 2016, Cherubim Interests, Inc. (the “Company”) agreed to convert certain outstanding debts on the books and records of the Company with respect to certain of its officers and directors in the aggregate amount of $200,000 the “Debt Conversions”). Pursuant to the terms of the Debt Conversions, the Company agreed to convert the outstanding debt into an aggregate of 200,000,000 shares of the Company’s common stock. No solicitation was made and no underwriting discounts were given or paid in connection with this transaction. The Company believes that the issuance of shares pursuant to the Agreement was exempt from registration with the Securities and Exchange Commission pursuant to Section 4(2) of the Securities Act of 1933.
Also, on September 9, 2016, the Company issued to certain employees and consultants of the Company an aggregate of 272,000 shares of Series B Preferred Stock in consideration of services rendered to the Company.
In respect to the aforementioned issuances of capital stock of the Company, no solicitation was made, and no underwriting discounts were given, or paid in connection with these transactions. The Company believes that the issuance of shares was exempt from registration with the Securities and Exchange Commission pursuant to Section 4(2) of the Securities Act of 1933.
