Novus Acquisition & Development Corp. (OTC: NDEV), a provider of health insurance and related insurance solutions to the legal medical marijuana industry, recently announced the regulatory approval and expansion of its Novus “MedPlan” into Alaska and Hawaii. With two new states under its belt, the program is now available in six states with several others on management’s radar.
“The addition of Hawaii and Alaska to the MedPlan program represents our ongoing commitment to expanding patient access to medical marijuana and growing long-term shareholder value,” said Novus Acquisition & Development Corp. CEO Frank Labrozzi. “Over the coming months, our team will continue to expand the company’s geographic footprint into states like Nevada.”
Mr. Labrozzi indicated that management also remains committed to finalizing its Form 10 and completing its audit, which would allow an up-listing to the OTC Markets’ OTCQB exchange when completed. Earlier this year, the CEO retired 90 million shares that represented more than half of the total number of outstanding shares at the time in a vote of confidence in the stock.
In addition to the expansion into new states, the company announced that Senior Healthcare Benefits Group – its insurance sales agency partner announced in February of this year – has filed in California to sell insurance under the Novus MedPlan trademark. The move could significantly expand the company’s addressable market given the state’s 600,000 registered patients.
Disclaimer: Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: http://www.cannabisfn.com/legal-disclaimer/.