SOURCE: Novus Acquisition & Development Corp.

May 09, 2017 09:30 ET

Novus Announces Roll Out In Florida's Cannabis Market

Florida Predicted to be the Second Largest Cannabis State in the U.S.

MIAMI, FL--(Marketwired - May 9, 2017) -  Novus Acquisition and Development, Corp. (OTC PINK: NDEV) ("Novus"), through its wholly owned subsidiary WCIG Insurance Services, Inc., is a diversified insurance entity in health, liability, annuity and accident, and, the nation's first carrier/aggregator offering a cannabis health plan, today announced that it is permitted to market its health benefits packages in the state of Florida.

NOVUS
Health |Life | Liability

Novus has begun its entry into what is expected to be the second largest cannabis revenue generating state in the U.S. and become a major player in the cannabis sector that will rival the current markets of Colorado and California.

Many analysts project that Florida's cannabis market will grow to $1.6 billion by 2020 at a compound annual growth rate of 140%; making it at least half the size of California's projected $2.6 billion and projecting Florida to be 7.5% of the total legal U.S. cannabis market by 2020.

Sources:
https://www.forbes.com/sites/debraborchardt/2016/12/09/florida-medical-marijuana-sales-could-rival-colorado-by-2020/#3323464194d3

This is supported by many companies coming into Florida, such as publicly-traded Aphria, a Canadian-based cannabis cultivator that plans to purchase and invest $25 million into a Florida cultivation facility that values the state cannabis license at close to $200 million.

As Novus continues to invest into the expansion of its infrastructure, this move into Florida will increase its projected 23 million Americans to 30 million by 2018, once markets are fully developed.

Novus CEO, Frank Labrozzi, stated, "Novus' business model in the cannabis health insurance is based on owning receivables (insurance policies) rather than depreciative assets such as hard inventory, manufacturing, delivery vehicles and warehousing that all can weigh heavy on a company's intrinsic value. Along with recent announcements that the U.S. Department Of Justice and U.S. Attorney General Jeff Sessions are getting their hands tied by Congress with no funds for the fight against patients that need medical cannabis, this sure points to signs that medical cannabis in the United States is here to stay."

Novus and the State of Healthcare from the U.S. Federal Government

As it stands many insurance companies, Aetna and Humana for example, are opting out of ObamaCare, leaving millions of Americans without health insurance. This also includes many Americans currently opting out of ObamaCare, for reasons of higher premiums, deductibles, and pharmaceutical coverages. Whether it's ObamaCare or TrumpCare, it does not matter, Novus will continue to design its plans to fill the gaps and seek the inefficiencies and take advantage of the country's current healthcare shortcomings.

Novus MedPlan not only covers medical cannabis, but also dental, vision, hearing, diabetic, lab and imaging packages that rival many government-subsidized healthcare plans. In the foreseeable future, Novus plans to announce new benefit packages that will cover many Americans even if ObamaCare is repealed and/or placed.

We invite you to review the entire filing here: https://www.otcmarkets.com/stock/NDEV/filings

About Novus

Novus Acquisition & Development Corp. (OTC PINK: NDEV), through its subsidiary WCIG Insurance, provides health insurance and related insurance solutions within the wellness and medical marijuana industries in states where legal programs exist. Novus has developed its infrastructure within many lines of the insurance business such as, health, property & casualty, life, accident and fixed annuities.

Novus medical cannabis benefits package will work as outside developers and will not cultivate, handle, transport grow, extract, dispense, put up for sale, put on the market, vend, deliver, supply, circulate, or trade cannabis or any substances that violate the United States law or the Controlled Substances Act, nor does it intend to do so in the future and will continue to follow state and federal laws. The statements made about specific products have not been evaluated by the United States Food and Drug Administration (FDA) and are not intended to diagnose, treat, cure or prevent disease. All information provided on these press releases or any information contained on or in any product label or packaging is for informational purposes only and is not intended as a substitute for advice from your physician or other health care professional. Once a push notification is competed the transaction is solely between the state-licensed dispensary and the registered patient.

The state laws are in conflict with the federal Controlled Substances Act. The current administration has effectively stated that it is not an efficient use of resources to direct federal law enforcement agencies to prosecute those lawfully abiding by state designated laws, allowing the use and distribution of medical marijuana. However, there is no guarantee that the current administration, nor any future administration, will not change this policy and decide to enforce the federal laws strongly. Any such change in the federal government's enforcement of current federal laws could cause significant financial changes to Novus Medical Group. While we do not intend to harvest, distribute or sell cannabis or cannabis related products, we may be harmed by a change in enforcement by federal or state governments.

For more information, please visit: http://www.getnovusnow.com

View Filings: https://www.otcmarkets.com/stock/NDEV/filings

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Forward-Looking Statements

This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, includes codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. Novus Medical Group disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

  • Novus Acquisition & Development Corp.
    Corporate:
    Chairman and CEO
    Frank Labrozzi
    frank@ndev.biz
    855-228-7355

    Investors:
    Hayden IR
    hart@haydenir.com
    917-658-7878