Salt Lake City, Nexia Holdings, Inc.Through its wholly owned subsidiary Gold Fusion
Laboratories Inc., announced today the grand opening of the Magical Funhouse Flagship Store of Black Chandelier, located at the Fashion Place Mall, a property of General Growth Properties (NYSE: GGP), in Murray, Utah.
With the assistance of the Murray Chamber of Commerce, the Magical Funhouse Flagship Store of Black Chandelier officially opened with a ribbon cutting ceremony held on
Friday, January 26, 2007.
Jared Gold, founder and head designer of Black Chandelier, commented, "What we have created is a personalized, unique shopping experience that sets us apart from the 'big box' retailers. The positive turnout for our celebration confirmed that we have created a truly unique retail concept.
Many attendees expressed enthusiasm for our designs and the store's layout.We think the curiosity factor alone will create continuous store traffic,appealing to tourists as well as loyal customers. The Black Chandelier design team is dedicated to bringing new apparel and other merchandise to the store, which will continually refresh our inventory. The Fashion Place Mall store sets the standard for opening future Black Chandelier retail stores."
Richard Surber, president of Nexia Holdings, Inc., said, "Based on stores of similar size in the Fashion Place Mall, the new Black Chandelier store is projected to generate annual gross sales in excess of $1 million.This will be the first of many more stores that we plan to open at General Growth Properties locations, and other upscale malls around the country."
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 http://www.nexiaholdings.com and http://www.sec.gov.
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 operations 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 opening of additional Black Chandelier locations.
Nexia's assumptions are further contingent upon Black
Chandelier being able to properly staff its additional locations. 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