October 22, 2008
Unico, Inc. Announces the Receipt of an Additional $100,000 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 $100,000 in financing through the sale of a new convertible debenture to Moore Investment Holdings, LLC, a Nevada limited liability company. The $100,000 convertible debenture was dated October 14, 2008.
The company has filed a Current Report on Form 8-K with the Securities and Exchange Commission regarding the financing.
The new funding is being utilized to support operations at the company's Deer Trail Mine in Marysvale, Utah, including ongoing underground rehabilitation work and continued upgrades and improvements to the floatation circuit at the Deer Trail mill and processing facility. Testing of the floatation circuit at the Deer Trail mill is ongoing, and the company has announced that the next steps at the facility are expected to include the production and sale of concentrates.
"This additional financing comes at a time when our wholly owned Deer Trailing Mining Company subsidiary is focused in multiple areas of the Deer Trail Mine, including the mill and processing facility, as well as on the development of underground mining activity at the site," stated Mark A. Lopez, chief executive officer of Unico, Inc. "We look forward to future progress in both of these areas and will update shareholders whenever possible."
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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
SOURCE: Unico, Inc.