SOURCE: Nexia Holdings, Inc.

Nexia Holdings, Inc.

October 23, 2014 08:30 ET

Nexia Holdings, Inc.: Settles Over $1.2M in Debt Year to Date

SALT LAKE CITY, UT--(Marketwired - Oct 23, 2014) - Nexia Holdings, Inc. (PINKSHEETS: NXHD) is pleased to report that it has settled an additional $375,000 in debt.

The Agreement will result in the release of a lien and the debt obligation of Nexia and Downtown Development, a wholly owned subsidiary. The debt was approximately $375,000 which was settled for a cash payment of $40,000. Nexia will realize a onetime gain of about $335,000 from the settlement it has obtained in the fourth quarter of this year.

Richard Surber, CEO of Nexia, commented, "My team continues its efforts to strengthen NXHD's balance sheet. We have settled in excess of $1.2 million in debt year to date. We have redeemed over a million dollars in convertible shares. I expect to make additional concrete measurable improvements over the coming months."

Richard Surber continued, "I am in the zone. My team is fired up. Nexia has shown strong growth in its top line revenues while wiping out liabilities for pennies on the dollar. My firm belief is that Nexia will only continue to improve over the coming months. The NXHD train is only just pulling up to the loading station."

About Nexia Holdings, Inc.
Nexia Holdings, Inc. (PINKSHEETS: NXHD), is a diversified holdings company with operations in entertainment, health & beauty, and real estate. Through WG Productions Company and Redline Entertainment, Inc., Nexia produces and distributes independent films for its own account and third parties. WG Productions Company is also the majority owner of Slide the City LLC http://www.slidethecity.com and The Lantern Fest LLC http://www.thelanternfest.com. Nexia also owns a majority interest in Green Endeavors, Inc. (PINKSHEETS: GRNE), www.green-endeavors.com, which operates Landis Salons, Inc. and Landis Salons II, Inc., www.landissalon.com, hair salons built around the world-class AVEDA product line. Learn more at www.nexiaholdings.com.

Nexia strongly encourages the public to read the above information in conjunction with its reports filed at www.otcmarkets.com. Nexia will require a significant influx of capital in order to effectively execute upon its various operational plans. The actual results that Nexia may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. Investors should not invest more than they can afford to lose in penny stocks.