Novus Acquisition and Development Corporation
Under the Symbol:
Illegal Vape Products Do Not Affect Novus
Thursday, October 10, 2019 8:30 AM
To Succeed in Cannabis, Internal Revenue, Not Being Capital Intensive
MIAMI, FL / ACCESSWIRE / October 10, 2019 / Novus Acquisition and Development, Corp. (OTC PINK:NDEV), through its wholly owned subsidiary WCIG Insurance Services, Inc., is a diversified insurance entity in health, annuity and accident, and, the nation's first carrier/aggregator offering a cannabis health plan, is pleased provide an update on its Novus Cannabis MedPlan as it navigates through "Vaping Crisis".
The cannabis industry has been a target for shorts in recent weeks due to a what is known as the "Vaping Crisis" linking to 1,000 illnesses in the U.S. and at least 18 deaths. What we do know is most people who have contracted lung disease has done so through black-market products.
Though many of our patient/members don't prefer vaping and many have voiced to us that they have no intention of quitting cannabis at all. What we have done for the patient/members that do like vaping we offer caution and encourage them to alternative delivery systems until the crisis is over. This is a time where Novus will shine as consumers look to us for safe cannabis use through dependable and tested sources.
The Cannabis Index has been attacked before and short sellers suffered losses of $1.78 billion when cannabis shares jumped in the first quarter of 2019. The key elements that shareholders need to know is Novus' recent stock performance is not reflective to the business traction and success we are gaining in the marketplace. Fundamentally, there's a lot to like about our business model in terms of operating, EBITDA and insignificant debt on the Balance Sheet. Even though Novus could accelerate growth with funding, but our business model can have sustainable growth from its internal capital which we cannot say the same for other cash demanding publicly traded cannabis companies.
The American worker is opting in for High Deductible Health Plans that will be paid by Health Savings Accounts funded by their employers. Novus offers a 64% savings versus other competitive health plans our insurance plans. Additionally, nothing incentivizes forty-five million American workers then to have cannabis as a part of their 2020 health plan.
As vaping fears subside; we are confident that the Cannabis Index will be appealing once again, and we wish the vaping companies all the best. As for Novus, expansion of our business has not been affected in this downturn of illicit black-market products. It's a cleansing process and once again we can assess that shareholder profits can be made once again as the market recovers.
We invite you to do your due diligence here:
Recap of recent announcements demonstrating increasing market traction and growth:
- Novus Cannabis MedPlan Continues Solid Growth of Over 400 Providers Click Here
- Novus Cannabis MedPlans to Accept Credit Cards for Policy Payments: Click Here
- Novus Signs Agreement with Alloy Insurance Services, a National Provider to Bundle Cannabis MedPlan: Click Here
- Novus Continues U.S. Expansion of its Dispensary Network: Click Here
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 or third-party payment processing platforms.
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 Corporation