Business
Novus is Granted Federal Charter to Conduct Business in Canada
Novus is Granted Federal Charter to Conduct Business in Canada.
About this update from Novus Acquisition & Development Corp.
[{"type":"text","content":"Plans on Entering the Canadian Market in 2018MIAMI, FL / ACCESSWIRE / September 7, 2017 / Novus Acquisition and Development, Corp. (OTC PINK: 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 announced that it has received approval to conduct business in the Canadian market.Novus has attained a Canadian federal charter allowing it to conduct its business model across the entire country, versus having to incorporate in each province. Novus is currently rolling out its branding and sales initiatives in the provinces of Ontario, British Columbia, Quebec, Alberta and Saskatchewan. Since the Canadian regulation is federal, inter-province is legal, as opposed to the U.S. whereby it's intrastate only.On July 1, 2018 Canadians will be able to purchase marijuana medically and recreationally, and, as always Novus has undertaken the foresight to be first to market in the medical cannabis sector. According to Deloitte the Canadian market is expected to grow to a $22.6 billion market by 2020, matching the United States as one of the top markets in the world. Novus believes that the Canadian marijuana market is advancing ahead of the U.S. in terms of establishing with federal regulation and pharmaceutical companies focused on discovering and potentially patenting marijuana-based cures.The number of licensed medical marijuana producers in Canada has jumped by 20% in the second quarter of 2017 as the country dedicates more resources to processing and cultivator applications to meet its growing demand for cannabis. This increase in cultivators has positioned the industry to better meet Canada's growing demand for medical marijuana. The number of registered MMJ patients has tripled in the past year. The Canadian MMJ patient population is growing at a rapid pace, 10% on a month over month basis (1) (2) (3).The Canadian health care system is a publicly funded system; similar to Medicare in the United States. Cannabis Medical Plans are not being openly offered but Canadians can use their health savings accounts to purchase medical cannabis, which can be deducted off their taxes. There is an opportunity for Novus Med Plans to offer its supplemental MMJ policy coverage.A...