Unico, Inc. Announces the Receipt of an Additional $200,000 in Funding From Moore Investment Holdings, LLCadmin
Unico, Incorporated (OTC BB:UCOI.OB – News), a natural resource company in the precious metals mining sector, today announced the receipt of an additional $200,000 in financing through the sale of one new convertible debenture to Moore Investment Holdings, LLC, a Nevada limited liability company. The financing will be utilized to complete ongoing reconstruction and equipment start-up testing at the Deer Trail mill and processing facility, as well as additional underground mine maintenance and rehabilitation work at the Deer Trail Mine.
Details of the financing are included in a Form 8-K filed with the Securities and Exchange Commission on April 3, 2008.
Including the $200,000 reported in the Form 8-K filing, Unico has received a total of $1,000,000 in financing since the beginning of the 2008 calendar year to help stimulate operations at the Deer Trail Mine.
Unico’s wholly owned subsidiary, Deer Trail Mining Company LLC, is completing work and testing in preparation for the initiation of processing operations at the Deer Trail mill facility. Reconstruction work in both of the main mill buildings and start-up testing of the floatation circuit has been announced over the past several weeks. The company also announced recently that Atlas Fausett Contracting had completed rehabilitation work up through to the 3400 level of the PTH tunnel of the Deer Trail Mine.
“The financing we have recently secured has been critical for the company to continue to support operations at the Deer Trail site, including start-up testing at the Deer Trail mill and processing facility,” stated Mark A. Lopez, chief executive officer of Unico, Inc. “We continue to focus on the completion of the floatation circuit of the mill, so that processing operations can begin. We intend to update shareholders on our progress as frequently as possible.”
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About Unico, Inc.
Unico, Inc. (OTC BB:UCOI.OB – News) 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. 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
OTC Financial Network Rick McCaffrey 781-444-6100, x625
Source: Unico, Inc.