Unico, Incorporated, a natural resource company in the precious metals mining sector, today announced the receipt of an additional $100,000 in financing through the sale of a new convertible debenture to Moore Investment Holdings, LLC, a Nevada limited liability company. The $100,000 convertible debenture was dated October 14, 2008.
The company has filed a Current Report on Form 8-K with the Securities and Exchange Commission regarding the financing.
The new funding is being utilized to support operations at the company’s Deer Trail Mine in Marysvale, Utah, including ongoing underground rehabilitation work and 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 and sale of concentrates.
“This additional financing comes at a time when our wholly owned Deer Trailing Mining Company subsidiary is focused in multiple areas of the Deer Trail Mine, including the mill and processing facility, as well as on the development of underground mining activity at the site,” stated Mark A. Lopez, chief executive officer of Unico, Inc. “We look forward to future progress in both of these areas and will update shareholders whenever possible.”
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.