Widespread Relationships Across the State Increase its Access to Users
MIAMI, FL / ACCESSWIRE / September 28, 2016 / Novus Acquisition and Development, Corp. (OTC Markets: NDEV), the nation's first
healthcare insurance carrier in the medical cannabis field and property and casualty sector, today announced its completed health
coverage footprint for medical marijuana (MMJ) in California. Novus' revolutionary MMJ health plan now covers approximately 110
cities across the state with its relationships with 20 dispensaries. For a complete list of cities and coverage, please visit:
http://www.getnovusnow.com/nmg/california.
Frank Labrozzi, Novus' Chairman and Chief Executive Officer, stated, "This milestone of our Provider Network (dispensaries
and/or delivery services) in 100+ cities in California is significant representation of how we built our health insurance
infrastructure. The Golden State represents 50% of the cannabis market with close to 1,000,000 registered patients averaging over
$300 per month per cannabis transaction. Achieving this significant task puts Novus in a position of no longer turning down any
patients for not having a Provider to service their geo-region."
With Proposition 64 on the ballot this November, all signs are pointing to a 60% approval by California voters. With a GDP of
$2.5 trillion per annum, California has the economy that ranks eighth in the world, with marijuana being one of the biggest
businesses. An approval would have a tremendously positive impact on Novus, as Proposition 64 imposes an excise tax on retail sales
of recreational marijuana at 15% of sales price, and state cultivation taxes on marijuana of $9.25 per ounce of flowers and $2.75
per ounce of leaves resulting in a total retail sales tax of over 20%. However medical marijuana patients will receive an exemption
on the taxation leaving Novus patient/members savings of 45% -50% on their monthly med purchases, based on $300 per month, with a
minimum annual saving of $1,620 per patient. Drawing consumers ever so closely to medical benefit packages that Novus possess.
Novus is proud to introduce our new providers into our network:
- Danko & Dab Co. located in California - Beach Meds located
in California - Budee.org located in California - Goldmine located in California - Nice Dreams located in California - Sweet Dreams
located in Illinois - We Clone located in California
NDEV 2nd Quarter Financial Filing: http://bit.ly/2cJ3Efj
About Novus
Novus Acquisition & Development Corp. (NDEV), through its subsidiary Novus Medical Group, Inc. and WCIG Insurance, provides
health insurance and related insurance solutions within the wellness and medical marijuana industries in states where legal
programs exist. Novus has positioned itself to gain market share within many lines of insurance business within and outside of the
MMJ sector.
Novus 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, check out: http://www.getnovusnow.com - For NDEV
2nd Quarter Financial Filing: http://bit.ly/2cJ3Efj - 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.
Contact Information
Corporate: Chairman and CEO Frank Labrozzi frank@ndev.biz 855-228-7355
Investors: Hayden IR hart@haydenir.com 917-658-7878
SOURCE: Novus Acquisition & Development Corp.
