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Why Novus Doesn’t Need SAFE Banking Act To Grow Revenue

PRESS RELEASE: Paid content from Accesswire
Press release content from Accesswire. The AP news staff was not involved in its creation.
January 10, 2023 GMT
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Novus' CEO Gives Exclusive Interview with Health Leaders Media MIAMI, FL / ACCESSWIRE / January 10, 2023 / Novus Acquisition and Development, Corp. (OTC Markets:NDEV), through its wholly-owned subsidiary WCIG Insurance Services, Inc. operates ...
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Novus' CEO Gives Exclusive Interview with Health Leaders Media MIAMI, FL / ACCESSWIRE / January 10, 2023 / Novus Acquisition and Development, Corp. (OTC Markets:NDEV), through its wholly-owned subsidiary WCIG Insurance Services, Inc. operates ...

Novus’ CEO Gives Exclusive Interview with Health Leaders Media

MIAMI, FL / ACCESSWIRE / January 10, 2023 / Novus Acquisition and Development, Corp. (OTC Markets:NDEV), through its wholly-owned subsidiary WCIG Insurance Services, Inc. operates as a national supplemental health insurance carrier and, the nation’s first to offer cannabis that is included in health plans for recreational and medicinal users. Today announces how the failure to pass the SAFE Banking Act does not affect Novus’ business or growth and an exclusive interview by Health Leaders Media.

Click Here For The Audio Version

Frank Labrozzi, CEO of Novus states: “Let’s begin to address the elephant in the room. SAFE Banking Act not passing does not affect Novus’ business or its growth. As an insurance carrier, we comply with regulations on a state-by-state basis, and, since we don’t touch the plant, we are approved to conduct transactions through merchants, banking institutions, and funding entities across the country.”


Investors should differentiate Novus from cannabis verticals, we are a health insurance carrier that happens to have a first-mover advantage in adding cannabis to consumer and employee health plans. Since 2015, our business model remains resilient in the ever-changing cannabis macroeconomic ecosystem. Investors should know that the HMO business model is a receivable-based business that withstands the current market pressure that cannabis stocks are currently facing. See Financial Statement Here:

2022 Economic Anomalies That Benefit Novus

In 2023, the Cannabis Index faces new challenges, however where investors see tribulations, Novus sees opportunities, such as:

Inflation and Employee Benefits: Spending patterns in consumer wallets have tightened, but what we learned from the COVID-19 pandemic, cannabis is now included in household monthly budgets of American cannabis users. The Compassionate Care Act has relaxed rules of drug testing mandates by employers. Human Resource Departments are forced to rewrite their policies relating to cannabis use and benefits in employee-sponsored health plans, as employers try to persuade employees back into the office environment.

Over Saturation of Supply: As the cannabis industry has grown and matured, there are still many brands saturating the marketplace stimulating Multi-State Operators (MSOs) to consolidate. These MSOs know that joining Novus Provider Network, can create for them an additional revenue stream, and, compliantly corral consumers through health plans on an exclusive basis, better positioning them for the up-and-coming larger national market demand that needs to be fulfilled.


Taxation: Legislative reform will create higher taxes on recreational cannabis. In California many recreational consumers are converting to medicinal users, taking the advantage of tax breaks along with significant discounts that Novus Cannabis MedPlan offers.

Interview with Health Leaders Media

Is a multi-platform media company dedicated to delivering the information needs of healthcare executives and professionals. In this segment, the author, Laura Beerman, wrote about: “Cannabis Coverage Is Here.” The convergence on the business of cannabis is now speaking the language of healthcare and using traditional industry strategies to attract members, brokers, and payers.” Read The Article Here:


About Novus

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.

About HealthLeaders Media and Author Laura Beerman

The author, Laura Beerman, and HealthLeaders is an HCPro brand, is a multi-platform media company dedicated to meeting the business information needs of healthcare executives and professionals. They offer an extensive and integrated series of leadership publications, products, research, and events devoted to the business of healthcare, including:

  • HealthLeaders magazine
  • 14 HealthLeaders e-newsletters
  • Research Reports on trending topics
  • Exchange events for healthcare executives
  • Executive Roundtables
  • Online Summits and expert webcasts
  • and more!

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. 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 which is not a statement of historical fact may be considered to be a forward-looking statement. 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.

Investor Contact Information



SOURCE: Novus Acquisition and Development Corporation

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