Novus Continues Positive Business Momentum in First Quarter 2017

MIAMI, FL--(Marketwired - May 16, 2017) - Novus Acquisition and Development, Corp. (OTC PINK: NDEV), 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 reported financial and operational results for the three month period ended March 31, 2017.

Key Milestones Achieved in Q1 2017:

• Revenues increased 43%, from year ago period
• Revenue increased for third consecutive sequential quarter
• Net Asset Value increased 1%
• Marketing engagement increased 100%

Novus continues to execute its plan as an early mover as an insurance entity in the legal medical cannabis industry with its unique business model and strategic partnerships with a focus on growing its number of covered lives. Securing additional strategic relationships in the cannabis sector with better-known cannabis companies is a key part of the focus to gain visibility and awareness and grow the business for the remainder of 2017 and beyond.

Financial Results for the Quarter Ended March 31, 2017:
Quarterly Revenue increased by 43% to $27,224 for the three months ended March 31, 2017, as compared to the first quarter of 2016. This increase was primarily due to increased awareness and visibility of the Novus MedPlan offering and the improvement in key performance indicators (KPI) in the Company's in-house marketing efforts.

Novus had experience significant increases at a reduced cost for third party marketers. During the first quarter of 2017, the Company deliberately decreased its digital ads from 1,500,000 monthly unique views to 1,000,000 monthly views, which resulted in a significant 100% increase of engagement from a 0.5% rate to 1% rate. The initiative proved that a quality target audience is essential to the branding effort. This change reduced the cost of advertising by 35%, giving Novus MedPlan the ability to preserve cash on hand to allow awareness campaigns to create brand awareness in early-developed markets.

Operating and Net income increased by 48% to $9,834 for the three months ended March 31, 2017, as compared to the first quarter of 2016. This represents a 36% operating profit margin for the three months ended March 31, 2017.

The Company's Balance Sheet remained strong with an increase in the cash balance to $74,236 and the Net Asset Value (NAV) increasing 1% over the sequential quarter to $1,393,978.

Insurance Valuations:
Conventional valuation analyses can demonstrate how investors might want to review how an insurance company is valued. By focusing on a company's balance sheet "equity" divided by the amount of "shares issued" an approximate valuation can be determined at an approximate multiple of "20 times" for emerging growth companies.

Capital Structure:
The Company did not raise any capital in the three months ended March 31, 2017. All sorts of institutional convertible notes with variable toxic pricing structures approached the Company. Novus did not take and will not consider any such capital as to protect its shareholder equity. In the first quarter of 2017, Company insiders and affiliates have not liquidated any of its holdings nor have taken any cash salary compensation for the preservation of the shareholder value. Common Shares Issued and Outstanding: direct from Company filings at OTC Markets https://www.otcmarkets.com/stock/NDEV/filings

Stock Issuance

• As of March 31, 2017: 92,453,624 of common shares issued and outstanding.
• As of December 31, 2016: 92,453,624 of common shares issued and outstanding.
• No sales of insider shares have been done since the third quarter of 2015.

Closing From The CEO
We are focused on the remainder of 2017 to execute on strategic acquisitions and strategic partnership agreements to help grow our business. Rapid growth for many insurance companies is the through strategic acquisitions, and/or business combinations. Novus feels the advantages are adding value to the combined entity by increasing overall revenues. Expand distribution channels that you can leverage more effectively with our own products and services. Accessing a talent pool without the need to engage in an extensive search and hiring process.

Novus's focus of expansion of acquisitions are but not limited to:

i. Books of business to consolidation of synergistic health plans
ii. Improve operation efficiencies
iii. Re-org, of businesses with antiquated technologies
iv. Increase valuations models
v. Boost net capital
vi. Acquire undervalued firms
vii. Further diversification
viii. Empowerment within market segments

Novus's management team remains mindful of potential impacts from fluctuating economic conditions volatility in the U.S. equity markets, rising interest rates, and the direction of current politics that could impact the industry.

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
• For NDEV Q1 2017 and 2016 Annual Financial Filings: https://www.otcmarkets.com/stock/NDEV/filings
• Learn How Insurance Companies Are Evaluated: http://bit.ly/2ddIYva

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.