Nexia Signs Three Letters of Intent to Acquire Residential Properties in Ogden, Utah
| Source: Nexia Holdings, Inc.
SALT LAKE CITY, UT--(Marketwire - November 10, 2009) - 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, a hair salon built around the
world-class AVEDA™ product line. For more information, visit
http://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 and 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.