Unico, Inc. Issues Statement on Press Release Issued by Krause Kalfayan Benink and Slavens, LLP
Tuesday, August 19th 2008
Unico, Incorporated, a natural resource company in the precious metals mining sector, today issued a statement regarding a press release issued by Krause Kalfayan Benink and Slavens, LLP, a law firm located in San Diego, California on August 15, 2008. The press release stated that Krause Kalfayan Benink and Slavens, LLP had filed a derivative lawsuit against Unico’s officers and directors.
Mark A. Lopez, chief executive officer of Unico, Inc., commented, “While management has not yet seen the lawsuit described in the press release issued by Krause Kalfayan Benink & Slavens, LLP, the company believes, based on the information in the press release, that the suit has no merit. Management is confident that it will prevail in any legal action and looks forward to the opportunity to address the issues raised in the press release in the proper venue.”
Since new management was appointed to lead Unico in 2004, the company has significantly advanced operations related to its mine subsidiaries. Included in this activity has been the purchase of the Deer Trail Mine in Marysvale, Utah; reconstruction and improvements to the mill and processing center at the site; construction of a new electrical substation and secondary substations at the site; successful connections to supply power from the substation to the Deer Trail Mine and mill site, and the completion of underground mine maintenance work including portal and stope rehabilitation through to the 3400 level of the PTH tunnel of the Deer Trail Mine.
Unico recently announced that it is focused on the next steps at the Deer Trail site, which are expected to include the production of concentrates at the mill and processing facility and plans to begin underground activities at the Deer Trail Mine.
The company has also entered into agreements to acquire over 70 additional mining claims in the area of the Deer Trail Mine, including the Clyde and Crown Point mining claims.
Unico, Inc. (OTC BB:UNCO.OB) 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.