Novus' Q3 2024 Highlights a Positive and Adaptable Strategy within the Cannabis Sector

About this update from Novus Acquisition & Development Corp.

Novus Acquisition & Development Corp, operating as Novus Cannabis MedPlan (OTC: NDEV ), is a leading national carrier of supplemental health insurance plans and a pioneer in incorporating cannabis coverage for recreational and medicinal users. The company recently updated its Q3 2024 results, highlighting favorable financial performance and critical catalysts for sustainable growth in the cannabis sector. Frank Labrozzi, CEO, stated, "We are focused on the financial growth and stability of the company within the cannabis sector, emphasizing our long-term growth potential. Novus will continue to expand in this ever-evolving market, and we are capable of adapting to various regulatory changes at the federal level." Financial Highlights No Sales of Insider Shares: For close to 3 years Gross Revenue Increase :  During this reporting period, Gross Revenue increased by 7.91% for the six months ending September 30, 2024, and 2023, and by 8.0% for the three months ending September 30, 2024, and 2023. Net Revenue Increase : EBITDA increased by 10.4% for the six months ending September 30, 2024, and 15.2% for the three months ending September 2024 compared to 2023. Profit Margin : During the reporting period, the company recorded gross profit margins of 40.4% for the six months ending September 30, 2024, and 45.4% for the three months ending September 30, 2024. Cash and Cash Equivalents: The financial reporting period ending September 30, 2024, saw a 6.31% increase. No Convertible Notes: No convertible notes issued or outstanding Insider Transparency : Frank Labrozzi, the CEO, is owed $161,637. He has no plans to exercise the call provision, and this debt instrument has no equity conversion provision. Leak Out Vendor Shares : All vendors who have received treasury-issued stock are contractually obligated to sell their shares gradually. The selling amount is determined based on 15% of the average daily trading volume over the past 30 days. Strategic Catalysts Political and Regulatory Developments : The federal government's commitment to cannabis reclassification and banking reform could significantly reduce regulatory pressures on the industry. The upcoming DEA hearing on cannabis rescheduling, scheduled for December 2, 2024, indicates a potential turning point for industry growth. Additionally, federal agencies are allocating funds for further research, and an increasing number of banks are beginning to transact business within the cannabis sector. Resilience through Self-Sustained Growth : Unlike many cannabis companies dependent on external funding, Novus leverages a model of self-sustained growth. The company’s profitability and revenue growth allow for reinvestment into strategic initiatives, maintaining independence and enhancing market positioning without the need for external capital. Profit Reinvestment : Through a profit reinvestment strategy, Novus continues to expand its capabilities, innovate, and adapt to market dynamics. This approach solidifies Novus's trajectory as a sustainable leader in the cannabis industry. In conclusion, Novus is making significant progress in the insurance industry by operating on a state-by-state basis. This strategy allows us to plan effectively without the complications related to federal legalization issues. By focusing our efforts in this manner, we can allocate our resources toward growth and strengthen our partnerships within the healthcare sector, particularly those that integrate Novus’ cannabis health plans into their medical offerings. We are looking forward to new opportunities as we improve collaborations and provide better support for our policyholders. About Novus Further Research: Financial Filings:  Click Here Quote: Click Here Investor's Page : Click Here  Novus (NDEV) operates through its wholly-owned subsidiary, WCIG Insurance Services, Inc. The company provides health plans as a health insurance carrier in states with legal medical marijuana programs. Novus' business model is based on receiving insurance premiums and does not involve the cultivation, distribution, or sale of cannabis or cannabis-related products. 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. Dilution, if any, would be for the purposes of management taking stock in lieu of cash salary. 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 that is not statements of historical fact may be considered to be forward-looking statements. 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 Investor Website 855-228-7355  Email: [email protected]

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