SmallCapNewsRelease:(OTCBB:UNCO) Reduces Stockholder Debt by $4.7 Million
JERICHO,NY--(SmallCapNewsRelease)--September 24th, 2009, Unico Inc., (OTCBB:UNCO-NEWS) announced today that they have solidified an agreement with Industrial Minerals Development (IMD) and Professional Geologist Frederic C. Johnson to drill and verify the upper tailings reserve at the Deer Tail Mine in Marysvale Utah and potentially other mines owned by Unico Inc.
The IMD agreement is following a recommendation by Behre Dolbear and Company for additional drilling, sampling and analysis of the Upper Tailings Dump as part of a larger plan for more aggressive exploration and identification of potential gold, silver and tellurium deposits.
Unico expects to file an amended 10-k for the three months ending May 31st, 2009 removing the Derivative Liability line item as well as other related adjusting entries reducing Total Stockholder’s Deficit by $4,700,000.00.
For more information, please visit www.smallcapsociety.com/unco.php
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