Cherubim Interests, Inc. entered into an asset purchase agreement to acquire intellectual property, goodwill, materials, supplies, business records, and other proprietary assets in regard to oil and gas leases in Texas and Oklahoma from Ewing Oil Company LLC for $0.27 million.

Cherubim Interests, Inc. (OTCPK:CHIT) entered into an asset purchase agreement to acquire intellectual property, goodwill, materials, supplies, business records, and other proprietary assets in regard to oil and gas leases in Texas and Oklahoma from Ewing Oil Company LLC for $0.27 million on October 30, 2013. As part of consideration, Cherubim Interests, Inc. (OTCPK:CHIT) will issue a note payable with an annual interest rate of ten percent.