Business
Novus Announces Roll Out In Florida's Cannabis Market
Novus Announces Roll Out In Florida's Cannabis Market.
About this update from Novus Acquisition & Development Corp.
[{"type":"text","content":"\n \n \n Novus Announces Roll Out In Florida's Cannabis Market\n \n \nNovus Announces Roll Out In Florida's Cannabis Market\n\nFlorida Predicted to be the Second Largest Cannabis State in the U.S.\n\n \n MIAMI, FL--(Marketwired - May 9, 2017) -  Novus Acquisition and Development, Corp. (OTC PINK: NDEV) (\"Novus\"), 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 announced that it is permitted to market its health benefits packages in the state of Florida.\n NOVUS\n Health |Life | Liability\n Novus has begun its entry into what is expected to be the second largest cannabis revenue generating state in the U.S. and become a major player in the cannabis sector that will rival the current markets of Colorado and California. \n Many analysts project that Florida's cannabis market will grow to $1.6 billion by 2020 at a compound annual growth rate of 140%; making it at least half the size of California's projected $2.6 billion and projecting Florida to be 7.5% of the total legal U.S. cannabis market by 2020. \n Sources: \n https://www.forbes.com/sites/debraborchardt/2016/12/09/florida-medical-marijuana-sales-could-rival-colorado-by-2020/#3323464194d3\n This is supported by many companies coming into Florida, such as publicly-traded Aphria, a Canadian-based cannabis cultivator that plans to purchase and invest $25 million into a Florida cultivation facility that values the state cannabis license at close to $200 million. \n As Novus continues to invest into the expansion of its infrastructure, this move into Florida will increase its projected 23 million Americans to 30 million by 2018, once markets are fully developed. \n Novus CEO, Frank Labrozzi, stated, \"Novus' business model in the cannabis health insurance is based on owning receivables (insurance policies) rather than depreciative assets such as hard inventory, manufacturing, delivery vehicles and warehousing that all can weigh heavy on a company's intrinsic value. Along with recent announcements that the U.S. Department Of Justice and U.S. Attorney General Jeff Sessions are getting their hands tied by Congress with no funds for the fight against patients that need medical cannabis, this sure points...