2009-11-10 14:15:04 -
SALT LAKE CITY, UT -- (Marketwire) -- 11/10/09 -- Nexia Holdings, Inc. (PINKSHEETS: NXHD) reported that it has signed three letters of intent to acquire three residential properties located in the Ogden, Utah area. The purchase prices for the properties are as follows: $95,000, $125,000, and $170,000; the first two are single family residences and the last property is a triplex. Total compensation in the form of 92,800 restricted shares of Series C Preferred Stock of Nexia would be issued to the sellers upon the closing of the final purchase of the properties according to the terms of the letters of intent.
These agreements are part of Nexia Holdings' real estate acquisition program and show the promise of the program even during the current downturn in the overall real estate market. Nexia's President, Richard Surber, stated, "I am hopeful that we can get back to growing this program and developing these properties into income sources for Nexia's real estate operations over the next 12 to 14 months."
About Nexia Holdings Inc.
Nexia Holdings Inc. (PINKSHEETS: NXHD), headquartered in Salt Lake City, Utah, is a diversified holdings company with operations in entertainment, real estate and health & beauty. Nexia owns a majority interest in Landis Salons, Inc., www.landissalons.com :
www.landissalons.com , a hair salon built around the world-class AVEDA(TM) product line. For more information, visit
www.nexiaholdings.com :
www.nexiaholdings.com .
Nexia strongly encourages the public to read the above information in conjunction with its Form 10-K for December 31, 2007 and the subsequent quarters of 2008. Nexia's disclosures can be viewed at www.nexiaholdings.com :
www.nexiaholdings.com and www.sec.gov :
www.sec.gov . The success of the above strategy is conditioned upon a substantial increase in liquidity of Nexia's common stock, an eventual recovery in the real estate markets that Nexia invests in and many other factors which will emerge as Nexia executes upon its acquisition strategy.
