Novus Acquisition and Development, Corp.
Under the Symbol:
Novus Signs Agreement with Alloy Insurance Services, a National Provider to Bundle Cannabis MedPlan
Tuesday, October 9, 2018 8:30 AM
Employee Benefits Organization is Adding Novus to Health Plans
MIAMI, FL / ACCESSWIRE / October 9, 2018 / 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 proudly announces its footprint expansion as it signs an agreement with Alloy Insurance Services, a new group provider to bundle Novus Cannabis MedPlan.
Novus executed a bundling agreement with Alloy Insurance Services LLC, an entity that provides employee benefits and administration services for over 50,000 employees nationwide.
John Pine Alloy's Chief Executive Offices, commented, "We are confident adding Novus' benefits as a solution to an emerging market will provide them a competitive advantage, as they have the only medical plan that will offer a preferred pricing on medical marijuana in the United States. Integrating Novus to our existing packages in states that allows distribution for Medical Regulated Cannabis, will add to Alloy's expansion in level funded health plans, acute care and telemedicine, pharmacy management, gap insurance and all other employee benefits."
Pine further stated, "This relationship benefits Novus at a perfect time. With open enrollment for 2019 around the corner, millions of Americans are faced with many competing solutions for their health plans and Alloy's level funded medical plan solutions, partnered with Novus, will provide those alternatives."
Frank Labrozzi, Chief Executive Offices of Novus, stated, "We are pleased that Alloy recognizes the competitive advantage of Novus Cannabis MedPlan. This agreement is evidence that the healthcare industry is recognizing the competitiveness of adding medical cannabis to employer group health polices. This is a burgeoning game changer for Novus and we are confident that this is the entryway to furthering the effort to make cannabis a fundamental benefits plan in North America."
You're invited to review our benefits packages: http://bit.ly/2PjDvon
Novus Capital Structure as of June 30, 2018:
- No Convertible Notes
- 98,233,624 common shares issued and outstanding
- No sales of insider shares since the third quarter of 2015
We invite you to review Novus filing(s) here: https://www.otcmarkets.com/stock/NDEV/filings
Alloy Insurance Services is a privately owned specialized general agency that exclusively partners with Brokers, Consultants, and Third-Party Administrators to negotiate, implement, and assist in providing management support in stop loss and ancillary benefits with the top-tier carriers. This is inclusive to their bundled products that offer medical dental, supplemental insurance, MEC (Minimum Essential Coverage) and EMEC (Enhanced MEC). Please visit: https://alloyemployer.com
Novus Acquisition & Development Corp. (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.
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 disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Chairman and CEO
SOURCE: Novus Acquisition and Development, Corp.