In the news release, Nexia Forms Redline Entertainment; a Film Distribution Company, issued 05-Nov-2010 by Nexia Holdings, Inc. over PR Newswire, we are advised by the company that in the first paragraph, fourth sentence and the second paragraph, first sentence, the company name should read "Highland Film Group" rather than "Highland Entertainment" as originally issued inadvertently. The complete, corrected release follows:
SALT LAKE CITY, Nov. 5, 2010 /PRNewswire/ -- Nexia Holdings, Inc. (Pink Sheets: NXHD) has launched a new company named Redline Entertainment, Inc. (Redline). Redline was formed to assist filmmakers in securing distribution for their independent films. The first agreement Redline entered into was for the distribution rights for The Kane Files. Redline in turn retained Highland Film Group as its sales agent for foreign distribution of The Kane Files.
Redline will generate revenues by retaining distribution rights for each independent film it signs. Redline in some instances will partner with other distribution sales agents, such as Highland Film Group. The purpose of securing the distribution rights for a film like The Kane Files is to create an additional source of revenue by performing many of the same functions as an outside distribution company, while maintaining control over the proceeds from distribution. The formation of Redline will be a mechanism to maintain greater control over Revel Entertainments film properties, as well as a way to generate additional revenues by assisting with sale of distribution rights for independent films by outside filmmakers.
Richard Surber, CEO of Nexia Holdings, Inc. and Vice President of Redline Entertainment, Inc. noted, "Redline presents an exciting opportunity to save money on distribution costs on films created by Revel Entertainment, as well as leverage our teams' expertise in finding distribution for other independent films. Redline already has secured distribution rights for three independent films. I will release the names of those films in the coming weeks."
Help us create more buzz around The Kane Files and become a Facebook fan. The Kane Files Facebook has all of the latest updates on its progression including trailers, key art, movie posters, and more. http://www.facebook.com/video/video.php?v=447591168305&saved#!/pages/The-Kane-Files/159750977374502?ref=sgm.
About Nexia Holdings, Inc.
Nexia Holdings, Inc. (Pink Sheets: NXHD), headquartered in Salt Lake City, Utah, is a diversified holdings company with operations in entertainment, health & beauty, and real estate. Nexia owns a majority interest in Green Endeavors, Inc., www.green-endeavors.com, which operates Landis Salons, Inc. and Landis Salons II, Inc., www.landissalons.com, hair salons built around the world-class AVEDA™ product line. Through its newly acquired entertainment division, Revel Entertainment, Inc., Nexia has plans to produce additional independent films and acquire the rights to several independent films. For more information, visit www.nexiaholdings.com.
Nexia strongly encourages the public to read the above information in conjunction with its reports filed at www.pinksheets.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.
FOR MORE INFORMATION, CONTACT:
Richard Surber, President
Nexia Holdings, Inc.
801-575-8073 x 106
SOURCE Nexia Holdings, Inc.