Cherubim Interests, Inc. has announced a plan its already begun executing to acquire income-producing properties through the creation of a class of Convertible Preferred Stock.
“Cherubim Interests, Inc. will begin placing an issue of convertible preferred shares to fund the acquisition of one or more income producing properties,” stated Patrick J. Johnson, CEO of CHIT. “The properties will in turn generate revenue for the Company and holders of the preferred stock.”
According to the press release, income from the investment properties will be tied to the preferred stock and paid out as dividends. The price for each share of the preferred stock has been set at $5.00 (US). The location for the first group of properties will be released in the coming weeks as negotiations continue to move forward.
“We are looking at a variety of locales and situations that have strong investment potential,” added Johnson. “We’ve narrowed the field and are closing in on our first targets. We expect things to happen very quickly. Look for more information in the coming weeks as a deal could be done as early as the end of this month.”
Cherubim Interests believes that creating a portfolio of income-producing properties will be an important part in its current strategy of acquiring assets and building wealth for shareholders.
For more information on the company, visit www.cherubiminterests.com
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