Press
Release
Unico, Inc. Announces $1.7 Million Financing Commitment to Exercise Purchase
Option on the Deer Trail Mine
Issued Monday May 21, 8:51 am ET
$800,000 of Commitment Received by the Company
SAN DIEGO, CA--(MARKET WIRE)--May. 21, 2007--Unico, Incorporated (OTC BB:
UCOI), a natural resource company in the precious metals mining sector, today
announced that the company has received a financing commitment for $1.7 million
for the purpose of exercising the lease buy-out option on the Deer Trail Mine. The
company has currently received $800,000 of this financing commitment in the
form of a private placement investment.
The terms of the modified lease and option to purchase agreement for the Deer
Trail Mine with Crown Mines, LLC, agreed to in April 2007, included an
extension of the final payment due date for the remaining $1.7 million to
purchase the Deer Trail Mine lease from January 31, 2007 to May 31, 2007.
"Securing the Deer Trail Mine as a long-term asset for both the company
and its shareholders has been a high priority for the company, and we are
pleased to have received a commitment for the entire remaining amount owed on
the purchase option of the lease in advance of the due date," said Mark A.
Lopez, chief executive officer of Unico, Inc.
"As our shareholders are well aware, the Deer Trail Mine has been a focal
point for developing revenues and long-term value through the company's
subsidiary operations. These efforts have included the reconstruction of
the mill and processing facility at the Deer Trail Mine and exploratory
drilling programs, particularly the underground diamond core drilling program
conducted at the Deer Trail Mine in 2005. With activities of such significance
centered around the Deer Trail Mine, meeting the terms of the modified lease
and option to purchase agreement with Crown Mines has been an important focus,
and we look forward to making the final payment by May 31st," Mr. Lopez
added.
The reconstruction of the mill and processing facility at the Deer Trail Mine,
which includes significant improvements designed to increase both the
efficiency and capacity of the facility, is currently in the completion stage,
and construction is underway on a new electrical substation that will supply
power to the Deer Trail Mine, both for processing operations and other planned mining
activities at the site.
Independent geological analysis of core samples taken from the underground
diamond core drilling program conducted at the Deer Trail Mine in 2005 has been
completed under the supervision and oversight of mining consultancy firm Behre
Dolbear and Company (USA), Inc. The last group of samples were logged, split,
bagged, and tagged at the Deer Trail site and have been shipped to the ALS
Chemex lab in North Vancouver, British Columbia. A Final Summary Report will be
completed and submitted to Unico by Behre Dolbear.
Shareholders who would like to sign up to receive information by email directly
from Unico, Inc., including when new photo galleries are posted to the company
website, are asked to visit the company's website at http://www.unicomining.com/IR/mailinglist.php
and fill in the appropriate fields.
About Unico, Inc.
Unico, Inc. (OTC BB: UCOI) 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 three
mine properties: the Deer Trail Mine, the Bromide Basin Mine and the Silver
Bell Mine. The company has also announced agreements to acquire over 70
additional mining claims. For more information, please visit
www.unicomining.com.
Forward-Looking Statements
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
951-587-8072
investors@unicomining.com
OTC Financial Network
Rick McCaffrey
781-444-6100, x625
rick@otcfn.com
www.otcfn.com/ucoi
.