Novus Acquisition & Development Corp d/b/a Novus Cannabis MedPlan (OTC Markets: (NDEV) is a leading national supplemental health insurance carrier and pioneer in offering cannabis in health plans for recreational and medicinal users. It released its update on its Q2 2024 results, Rx Dispensing Platform, and Key Elements that fuel its success after the Drug Enforcement Agency (DEA) announced that cannabis would be rescheduled.
Management’s Statement
CEO Frank Labrozzi has stated the following: “Novus’ growth trajectory is entirely self-funded and independent of external capital. Our organic strategy has consistently delivered results, demonstrating our ability to thrive even without the potential benefits of industry-wide or regulatory changes. Our unwavering commitment to shareholders is evident in our consistent financial performance. We have maintained a capital structure without diluting common shares since June 2021 and have had zero insider selling for nearly three years.”
Financial Highlights
Financial insights into Novus’ business model include its revenue streams and financial condition.
D2C Platform Release
Federal rescheduling is on the horizon, and Novus is prepared for the newly regulated market. The company plans to launch its direct-to-consumer cannabis RX platform on September 1, 2024. This platform is designed to benefit policyholders, cannabis verticals, and healthcare providers alike. The platform will provide:
Closing
Anticipating an impending market shift resulting from federal rescheduling, Novus presents unique diversification opportunities beyond traditional cannabis cultivation and retail stocks. Through the integration of cannabis into healthcare plans and the use of a direct-to-consumer (D2C) platform, we are establishing a scalable infrastructure and adopting a flexible approach that allows us to take advantage of emerging market opportunities as regulations and research evolve.
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About Novus
Further Research:
Novus (NDEV) operates through its wholly-owned subsidiary, WCIG Insurance Services, Inc. The company provides health plans as a health insurance carrier in states with legal medical marijuana programs. Novus’ business model is based on receiving insurance premiums and does not involve the cultivation, distribution, or sale of cannabis or cannabis-related products.
Forward-Looking Statements
This release includes forward-looking statements, which are based on certain assumptions and reflect 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. Dilution, if any, would be for the purposes of management taking stock in lieu of cash salary. 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. Additionally, this press release that is not statements of historical fact may be considered to be forward-looking statements. Written words such as “may,” “will,” “expect,” “believe,” “anticipate,” “estimate,” “intends,” “goal,” “objective,” “seek,” “attempt,” or variations of these or similar words, identify forward-looking statements. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future.
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Email: info@getnovusnow.com
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