Press
Release
Unico, Inc. Receives Balance of the $1.7 Million Financing Commitment to
Exercise the Purchase Option on the Deer Trail Mine
Issued Thursday June 14, 9:22 am ET
Company Also Files 10-KSB Annual Report for Fiscal Year 2007
SAN DIEGO, CA--(MARKET WIRE)--Jun. 14, 2007--Unico, Incorporated (OTC BB:
UCOI), a natural resource company in the precious metals mining sector, today
announced that the company has received the balance of the $1.7 million
financing commitment in the form of a private placement investment to be used for
the purpose of exercising the lease buy-out option on the Deer Trail Mine in
Marysvale, Utah.
The process of transferring ownership of the Deer Trail Mine from Crown Mines,
LLC has been initiated and the company expects to make the final payment to complete
the purchase of the property once the necessary agreements have been executed. Legal
representatives from Unico, Inc. and Crown Mines, LLC are working to complete
several necessary documents related to the purchase, including a purchase
agreement, a bill of sale and a quitclaim deed to effect the transfer of
ownership of the Deer Trail Mining Claims.
The mining lease and option to purchase between Unico, Inc. and Crown Mines,
LLC, dated December 12, 2001, was adjusted through a first modification of
mining lease and option to purchase, dated May 31, 2004, a second modification
of mining lease and option to purchase, dated April 21, 2006, a third
modification of mining lease and option to purchase, dated November 1, 2006,
and a fourth modified lease and option to purchase agreement in April 2007,
which provided for a due date of May 31, 2007 for Unico, Inc. to exercise its
purchase option.
Unico's wholly owned subsidiary, Deer Trail Mining Company, LLC, is expected to
acquire the mining claims, which consist of 32 patented mining claims and 171
unpatented mining claims, as well as mill sites, dumps and other transferable
rights contained in the agreement.
"Unico has received the balance of the $1.7 million financing commitment
to exercise the purchase option of the Deer Trail Mine, which is an important
step in securing the property as a long-term asset for the company,"
stated Mark A. Lopez, chief executive officer of Unico, Inc. "With the
process of transferring ownership of the property underway, we look forward to
completing this transaction as we concurrently complete the final stages of
reconstruction of the mill and processing facility at the Deer Trail
Mine."
The company has also filed its Annual Report on Form 10-KSB with audited
financial statements, covering the company's 2007 fiscal year, which ended
February 28, 2007.
"We are very pleased to have met the company's reporting
requirements with the filing of the 2007 annual report. The 2008 fiscal year is
expected to be even more eventful than 2007, with the anticipated start-up of
the mill and processing facility at the Deer Trail Mine and additional
activates planned for the company's subsidiary mining properties," Mr.
Lopez added.
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
.