July 29, 2008
Unico, Inc. Announces the Receipt of an Additional $235,000 in Funding From Moore Investment Holdings, LLC
Unico, Incorporated (OTCBB: UNCO), a natural resource company in the precious metals mining sector, today announced the receipt of an additional $235,000 in financing through the sale of four new convertible debentures to Moore Investment Holdings, LLC, a Nevada limited liability company.
Details of the financing are included in a Form 8-K filed with the Securities and Exchange Commission on July 28, 2008.
The funding is being utilized to continue upgrades and improvements to the floatation circuit at the mill and processing facility at the Deer Trail Mine in Marysvale, Utah. Unico's wholly owned subsidiary, Deer Trail Mining Company, LLC, recently announced the completion of the floatation circuit at the mill and processing facility at the Deer Trail Mine. Repairs and improvements have recently been undertaken in order to facilitate more effective and efficient operations at the mill, and the company looks forward to the next steps at the facility, which are expected to include the production of concentrates.
The $235,000 in funding includes convertible debentures of $10,000 dated July 14, 2008; $25,000 dated July 16, 2008; $100,000 dated July 18, 2008; and $100,000 dated July 23, 2008.
Including the $235,000 received as a result of these debentures, Unico has received a total of $1,415,000 in financing since the beginning of the 2008 calendar year to help stimulate operations at the Deer Trail Mine.
"This funding comes at an important time for the company as we complete upgrades and refinements to the floatation circuit at the Deer Trail mill facility," stated Mark A. Lopez, chief executive officer of Unico, Inc. "We expect to provide additional information on the status of our project at the Deer Trail Mine in the coming days, including preparations for potential future underground mining activities at the site."
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About Unico, Inc.
Unico, Inc. (OTCBB: UNCO) is a publicly traded natural resource company in the precious metals mining sector that is focused on the exploration, development and production of gold, silver, lead, zinc, and copper concentrates at its two mine properties: the Deer Trail Mine and the Silver Bell Mine. The company has also announced agreements to acquire over 70 additional mining claims including the Clyde and Crown Point mining claims. In August 2007, Unico announced that its wholly owned Deer Trail Mining Company subsidiary had completed the purchase of the Deer Trail Mine from Crown Mines, LLC. For more information, please visit www.unicomining.com.
This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and such Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The company may experience significant fluctuations in operating results due to a number of economic, competitive and other factors. These factors could cause operation results to vary significantly from those in prior periods, and those projected in forward-looking statements. Information with respect to these factors, which could materially affect the company and its operations, are included on certain forms the company files with the Securities and Exchange Commission.
Contacts: Gemini Financial Communications, Inc. A. Beyer 951-677-8073 Email Contact OTC Financial Network Rick McCaffrey 781-444-6100, x625 Email Contactwww.otcfn.com/ucoi
SOURCE: Unico, Inc.