Unico, Inc. Announces an Additional $300,000 in Financing From Moore Investment Holdings, LLC
Unico, Incorporated, a natural resource company in the precious metals mining sector, today announced the receipt of an additional $300,000 in financing through the sale of two new convertible debentures to Moore Investment Holdings, LLC, a Nevada limited liability company.
The $300,000 in financing received includes one convertible debenture in the amount of $200,000 dated August 7, 2008 and another debenture in the amount of $100,000 dated August 25, 2008.
The funding received by the company is being utilized to help stimulate operations at the Deer Trail Mine in Marysvale, Utah, including the recently announced underground rehabilitation work at the Deer Trail Mine and the 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 of concentrates.
Including the $300,000 received as a result of these debentures, Unico has received a total of $1,715,000 in financing since the beginning of the 2008 calendar year.
“The financing received as a result of these two recent debentures has been used to support improvements at the company’s project at the Deer Trail Mine,” commented Mark A. Lopez, chief executive officer of Unico, Inc. “These improvements include ongoing upgrades and refinements to the floatation circuit at the Deer Trail mill facility, as well as underground rehabilitation work at the Deer Trail Mine.”
Unico, Inc. 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.