Nexia Holdings, Inc. announced today that it has signed a stock exchange agreement with Seamless Corporation (SMWF.OB) to exchange 200,000 shares of Nexiaâ€™s Series C Preferred Stock, with a stated conversion value of $1,000,000, for $1,000,000 worth of Seamless Corporationâ€™s Series â€œCâ€ Preferred Stock. The company anticipates that the closing of this exchange will take place within the next 10 days, pending the delivery of the necessary documentation to the respective transfer agents of the two companies.
Mr. Surber, CEO of Nexia, commented, â€œThis is one of several such exchanges that I have been exploring over the past few weeks. I am pleased to see the discussions produce a final agreement that I believe will be of benefit to Nexia. I will continue to seek to expand the portfolio of investments that Nexia holds for the benefit of its operations.â€
Mr. Albert Reda, the President of Seamless Corporation, stated, â€œThe benefit is that Nexia and Seamless will both have additional exposure within the OTCBB investment community, which is a plus for both companies.â€
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