Nexia Set to Acquire $500,000 of ARIO Preferred Stock
| Source: Nexia Holdings, Inc.
SALT LAKE CITY, UT--(Marketwire - March 5, 2009) - Nexia Holdings, Inc. (OTCBB : NXHD )
reported that it has executed a Stock Exchange Agreement with AmeriResource
Technologies, Inc. (PINKSHEETS : ARIO ) to exchange 100,000 shares of Nexia's
Series C Preferred Stock, with a stated conversion value of $500,000, for
$500,000 of ARIO preferred stock. The closing on the exchange is expected
to take place within the next week to 10 days. The investment in ARIO is
the first of many transactions that Nexia expects to execute over the
coming months.
Mr. Surber commented that, "I am involved in discussions with up to six
other entities that are interested in carrying out similar exchanges with
Nexia. Such exchanges will broaden the portfolio of companies in which
Nexia holds an interest. My goal is to use Preferred shares in Nexia, in
lieu of cash, to create a diversified portfolio of high risk securities
with a face value that could exceed $20M in the coming months."
Mr. Delmar Janovec, CEO of ARIO, noted, "Stock swaps are relatively simple
transactions to complete which require nominal cash outlays to effect.
Stock swaps are a way to create a source of liquidity in 6 to 12 months
from the date each transaction is closed. ARIO intends to rely on the
recently modified Rule 144, set forth by the Securities and Exchange
Commission, as a means to help finance its operations and improve its
financial position."
Mr. Surber disclosed that, "I have assisted or affected many similar stock
exchanges in the past and have seen companies convert their holdings into
millions of dollars. In fact, a similar exchange is what initially
financed Nexia Holdings when I first became president back in 1998. There
are many great opportunities in the penny stock arena and I intend to seize
them for the benefit of Nexia."
About Nexia Holdings, Inc.:
Nexia Holdings, Inc. (OTCBB : NXHD ), headquartered in Salt Lake City, Utah,
is a diversified holdings company with operations in real estate, health &
beauty, and fashion retail. Nexia's subsidiary, Green Endeavors, LTD
(PINKSHEETS : GRNE ), www.green-endeavors.com, owns a majority interest in
Landis Lifestyle Salon, www.landissalons.com, a hair salon built around the
world-class AVEDA™ product line. Through its Style Perfect, Inc.
subsidiary, Nexia owns the innovative retail and design firm Black
Chandelier and its related brands. Black Chandelier currently operates an
online store at www.blackchandelier.com. For more information, visit
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
quarterly filings and disclosures in 2008 and 2009. Nexia's disclosures can
be viewed at www.nexiaholdings.com and www.sec.gov.