.<font color=green>NXHL.ob (.0003) Nexia Pursues Private Equity and Potential Reverse Merger Candidates Friday, March 28 2008 - 8:00
NXHL $0.0003 $0.0001 (%50)
SALT LAKE CITY--(BUSINESS WIRE)--
Nexia Holdings, Inc. (OTCBB: NXHL) announced today that it intends to continue forward with its business plan, but is also actively entertaining potential purchasers or private companies that are interested in going public through a reverse merger. Nexia's CEO and director will begin a concerted effort to augment the company's capital raising efforts to find investment banking firms that may be interested in an open market purchase of Nexia's common shares and the purchase of the CEO's voting control through the purchase of his Class B preferred shares at a substantial premium to market.
This course of action is being pursued for many reasons: These include the exceptionally low market cap of the company's shares of common stock and the need for additional capital that would lead to growing revenues. These needs may be met by either augmenting our current operations with a strong acquisition candidate or through being essentially bought out by a firm that would provide the capital resources Nexia needs to grow.
Mr. Surber stated that he is "not opposed to stepping down as CEO in favor of 'new blood' in an effort to enhance shareholder value. I feel the pain of many of Nexia's long-time investors, people that in many cases I have a personal relationship with. A shift in paradigm is what is needed to move this company forward and I am willing to do what it takes, including stepping aside in favor of an existing private company or private equity firm that would boost the value of Nexia. Nexia has a talented staff that can effect the change needed to get our stock price out of its ridiculously low trading range. Our team is committed to building a successful company as proven by our tenacity in sticking it out during difficult times."
About Nexia Holdings
Nexia Holdings Inc. (OTCBB: NXHL) is a diversified holdings company with operations in health & beauty, fashion retail and real estate. Nexia owns a majority interest in Landis Lifestyle Salon, http://www.landissalon.com, a hair salon built around the world-class AVEDA(TM) product line. Nexia owns the innovative retail and design firm Style Perfect, Inc. and its related brands. Style Perfect currently operates two retail locations and online operations at http://www.blackchandelier.com.
Nexia strongly encourages the public to read the above information in conjunction with its Form 10-KSB for December 31, 2006 and for the subsequent quarters during 2007. Nexia's disclosures can be viewed at www.nexiaholdings.com and www.sec.gov. Although this press release is not a solicitation to buy or sell stock in Nexia, potential investors should note that Nexia is a high-risk investment and is not suitable for all investors.
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