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.

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