Press Release
Unico, Inc. Announces the Receipt of an Additional $235,000 in Funding from
Moore Investment Holdings, LLC
Issued Tuesday July 29, 10:00 am ET
SAN DIEGO, CA--(MARKET WIRE)--Jul. 29, 2008--Unico, Incorporated (OTC BB:
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.�
Shareholders who would like to sign up to receive information by email directly
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About Unico, Inc.
Unico, Inc. (OTC BB: 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.
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
951-677-8073
investors@unicomining.com
OTC Financial Network
Rick McCaffrey
781-444-6100, x625
rick@otcfn.com
www.otcfn.com/ucoi
.