Novus Addresses DOJ Guidance and Expects No Changes with Only Uncertainty in Washington

Novus is proud to announce that it was a featured in cover article on Canadian CannaInvestor Magazine

Remains Focused on Aggressive Expansion into Canadian Medical Cannabis Market

MIAMI, FL, Jan. 08, 2018 -- Novus Acquisition and Development, Corp. (OTC Markets: NDEV), through its wholly owned subsidiary WCIG Insurance Services, Inc., is a diversified insurance entity in health, liability, annuity and accident, and, the nation’s first carrier/aggregator offering a cannabis health plan, today issued the following comments in response to the United States Department of Justice’s (“DOJ”) decision to rescind the Cole Memorandum (“Cole Memo”). 

The Cole Memo, which has been in place since 2013, stated that the DOJ would not interfere in state legalized cannabis outlined by the federal government. Last week, the Cole Memo was rescinded by the Department of Justice, led by Jeff Sessions.

Frank Labrozzi, Chairman and CEO of Novus, commented, “This was a very serious action and we sought consultation with our legal advisors on how this may affect Novus’ business model. While we understand that the Cole Memo is not a federal law, we believe Congress will enforce budgetary restrictions overriding the Justice Department actions.  The DOJ and Sessions will face a Congress filled with an unprecedented number of pro-marijuana lawmakers from a record number of states where it’s legal. Additionally, there has been overwhelming support among Americans for regulated marijuana and the rights of the states. 94% of American electorates support medical marijuana and 64% support adult use laws. State legalized marijuana has created a $7 billion industry, with much needed state and local tax revenue approaching $1 billion dollars and tens of thousands of jobs.”

Labrozzi, continued, “It is no mystery that Session is no friend to legal cannabis and we believe that this effort by Sessions to derail pro-marijuana legislation will not be a fruitful outcome for him other than to shake the confidence of the investor markets.  This action will have no effect on Novus’ business model where we are approved to conduct our business in the United States and Canada.  So our approach will be status quo to further our expansion efforts.”

Cover Article In Investor Magazine

Novus is proud to announce that it was a featured in cover article on Canadian CannaInvestor Magazine, a publication focusing on the equity markets and legal cannabis market. We encourage you to review the article here: http://bit.ly/2ADbeAF. And financial research please click here: http://bit.ly/2hY2PEg

About Novus

Novus Acquisition & Development Corp. (NDEV), through its subsidiary WCIG Insurance, 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, property & casualty, life, accident and fixed annuities.

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. Once a push notification is competed the transaction is solely between the state-licensed dispensary and the registered patient.

The state laws are in 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. 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 to Novus Medical Group. 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.

Financial filings, please visit: http://bit.ly/2hY2PEg
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Forward-Looking Statements

This release includes forward-looking statements, which are based on certain assumptions and reflects 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 Medical Group disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information
Corporate:
Chairman and CEO
Frank Labrozzi
[email protected]
855-228-7355

Investors:
Hayden IR
[email protected]
917-658-7878