MIAMI, FL – OTC Markets – November 9, 2022, – Novus Acquisition and Development, Corp. (OTC Markets: (NDEV), through its wholly-owned subsidiary WCIG Insurance Services, Inc. Operates as a national hybrid health insurance carrier and, the nation’s first health carrier offering cannabis that is included in health plans for recreational and medicinal users. Announces the addition to its benefit packages with the integration of an online pharmacy managed by Plitio to provide our policyholders with online ordering of their prescriptions.
It’s been six years of building an infrastructure of a Provider Network of cannabis verticals that integrates cannabis in our health plans, and we find ourselves on the precibus of re-scheduling cannabis under federal law.
Management has set its plans for the future in giving policyholders more healthcare options for their cannabis benefits. Projecting the beginning of 2023, Novus will offer prescription medication through an online pharmacy platform with a Canadian developer known as Plitio.
The deal calls for private labeling of the intellectual property in the name of Novus. The technology backbone of the platform will remit and distribute prescriptions at a discount of as much as 50% on generic meds.
Frank Labrozzi, Novus’ CEO, states; “This alliance offers threefold advantages, more revenue to our Provider Network, immense discounts to our policyholders on their prescriptions and/or cannabis meds, all leading to generating more policyholder sales for our shareholders.”
Kayhan Moayeri, Plitio CEO, states: “We see that our technology and prescription drug plans offered by Novus, will simultaneously expand each of our company’s marketplace presence to meet the needs of today’s providers and patients.
Regulatory changes continue to favor Novus as we make cannabis eligible in Employer-Sponsored Health Plans. There is collective acceptance by regional and national health carriers, as we continue to conclude contractual negotiations to embed Novus policies with their health plans.
Novus Acquisition & Development Corp. (NDEV), through its subsidiary WCIG Insurance, Services, Inc. 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, life, and fixed annuities. As a carrier Novus relies on two key indicators to measure value and performance. The Benefit Monetization Ratio is defined as the total number of policies, monetized annually, which is offset by the operating cost ratio which is a Balance Sheet line item computed as Net Asset Value.
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. All cannabis transaction is solely between the state-licensed dispensary and the registered patient.
The state laws 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. Changes in consolidation may affect the provider network. 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. 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 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. 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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