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[QUOTE]Originally posted by J_U_ICE: [QB] NEXH (.0004) Begins Construction on GGP Property Business Wire "US Press Releases " SALT LAKE CITY--(BUSINESS WIRE)-- Nexia Holdings, Inc.'s (OTCBB: NEXH) subsidiary, Gold Fusion Laboratories (dba Black Chandelier), began construction of its soon-to-be flagship retail location in the Fashion Place Mall in Salt Lake City, Utah. The Fashion Place Mall is a General Growth Properties, Inc. (NYSE: GGP) property. CRC Construction began demolition of the space last night, with a completion goal of December 1, 2006. The estimated construction costs are $200,000. Gold Fusion Laboratories Inc. (GFL) and its head designer, Mr. Jared Gold, have worked diligently with architects at Horn & Partners to re-engineer and perfect the build-out of the 1,440 square foot space. Mr. Gold comments, "This revolutionary retail environment features elevated floors, ramps, staircases, micro-merchandising environments, kinetic art, and custom built lighting that will convey Black Chandelier's retail points of difference. It will also tout a state of the art inventory control system, interactive displays, and a merchandising system that will sync with the online store. Even with all these advancements, the store will still feel warm and inviting. We are completely focused on helping customers explore Black Chandelier's inventive products." Nexia's CEO, Richard Surber, notes, "I am very excited about our prospects with GGP. The opening of the Fashion Place Mall will be the first of hopefully many locations we intend to open with GGP throughout the United States. The Fashion Place Mall has the highest retail sales per square foot for a property of its size in Utah. I believe that we will generate sales in excess of $1 million dollars for the first 12 months of operation based upon retail stores of comparable size located within this mall." Nexia will have a total of four Black Chandelier stores operating by the end of 2006. In addition to reviewing GGP's portfolio of properties, we are entertaining offers from Simon Properties, Inc (NYSE: SPG), Macerich Co. (NYSE: MAC), CBL & Associates Properties (NYSE: CBL), and other holders of prime retail properties. Nexia strongly encourages the public to read the above information in conjunction with its Form 10-KSB for December 31, 2005 and for the subsequent quarters during 2006. Nexia's disclosures can be viewed at [URL=http://www.nexiaholdings.com]www.nexiaholdings.com[/URL] and [URL=http://www.sec.gov.]www.sec.gov.[/URL] This press release contains forward-looking statements that are based on a number of assumptions, including the successful completion of the marketing plans and expansion of Black Chandelier operation in a short period of time. The above statements further assume that Nexia can obtain sufficient capital to execute expansion plans through outside investments including but not limited to obtaining significant leasehold improvements and sufficient lines of credit to fund the design and manufacture of Black Chandelier products on a substantially larger scale. There are no assurances that such assumptions will prove correct. These forward-looking statements involve a number of risks and uncertainties, including an expectation of substantial increase in sales. The actual results that Nexia Holdings may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. Source: Nexia Holdings, Inc. [/QB][/QUOTE]
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