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Unico, Inc. Announces Changes to the Company's Board of Directors

^{Published on 2009-12-17 07:40:27 - Market Wire}
 

SAN DIEGO, CA--(Marketwire - December 17, 2009) - Unico, Incorporated (OTCBB: [ UNCO ]), a natural resource company in the precious metals mining sector, today announced changes to the company's Board of Directors, including the appointment of a new Chairman and the appointment of four new directors. Effective December 16, 2009, Ray C. Brown resigned as a director and as Chairman of the Board of Directors, and the remaining directors elected Dr. Edward E. Winders, an existing director, as Chairman. Also effective December 16, 2009, Stephen R. Brown was appointed as a director of Unico by the remaining directors, in order to fill the vacancy created through the resignation of Ray C. Brown as a director. The Board voted to expand the size of the Board of Directors from three persons to six persons and to elect President/CEO Mark A. Lopez, David A. Gillespie and Ernest H. Kuhn to the Board in order to fill the three new director positions.

A certified professional geologist with a Ph.D. from Columbia University, Dr. Brown is currently a principal scientist at New England Research (NER) and a visiting Scientist in the Department of Earth and Planetary Sciences at MIT. He has published numerous articles on the physical properties of fractured and otherwise heterogeneous rock and the application of geophysical methods to mining, energy and environmental problems.

Mr. Kuhn, a Certified Public Accountant, brings to the Board more than thirty years of professional experience having most recently worked as the Chief Financial Officer of the Tilley Exploration and Development Company, a mining engineering and exploration company located north of Salt Lake City. His expertise covers all aspects of financial management including but not limited to a solid working knowledge of federal and state government reporting requirements, GAAP required internal controls, auditing; fully computerized recordkeeping, and preparation of the financial segments of capital projects.

David Gillespie is the former Vice President in charge of Business Development and Asset Management for Duke Energy Corporation. Prior to holding that position, he was Senior Director for Asset Management for Duke. In addition to such corporate experience, he was President and CEO of a new generation bio-fuel company that was formed to commercialize a proprietary technology for the manufacture of renewable fuel, thus bringing to Unico the specific leadership/administrative expertise required for a developmental enterprise.

Unico, Inc. is expected to file a Current Report on Form 8-K regarding the changes to the Board within the next several days. The company's SEC filings can be accessed through a link on the Investor Relations section of its corporate website, [ www.unicomining.com ].

After accepting his appointment as Chairman, Mr. Winders commented, "I appreciate the trust and confidence that Ray Brown has shown in recommending me for Board Chairman. Ray, of course, has spent a good portion of his adult life building Unico and deserves much credit for this yeoman effort and commitment. My job as the new Chairman is to strengthen and expand our efforts, working in concert with the other Board members and with our executive and technical staff, in making the company a profitable and well-managed operation."

Mr. Lopez stated, "Having worked with Ray for many years, first as a consultant to Unico and then on the company's management team, I also want to applaud his work leading the Board and providing direction for the company and its operations. A major focus of our work going forward will be to fulfill Ray's vision of bringing the Deer Trail Mine into full production. I look forward to working as part of both the executive management team and the Board of Directors, linking executive decision making and Board oversight as we work together to build the Deer Trail Mine into a potential world-class project."

Dr. Stephen R. Brown is a Principal Scientist at New England Research (NER) (1997-present) and a Visiting Scientist in the Department of Earth and Planetary Sciences at the Massachusetts Institute of Technology (MIT) (2009-present). He was formerly a Senior Scientist at Applied Research Associates (1996-1997), a Member of the Technical Staff at Sandia National Laboratories (1987-1996), a Member of the Professional Staff at Schlumberger-Doll Research (1985-1987), and a post-doctoral fellow at Los Alamos National Laboratory (1984-1985). He was an Adjunct Assistant Professor at Dartmouth College, Hanover, New Hampshire (2000-2006). He is currently an Adjunct Associate Professor of Geology and Geophysics at the University of Utah (1987-present). His former professional involvements include being a member of the NAS/NRC Committee on Fracture Characterization and Fluid Flow and a member of the board of directors of the American Rock Mechanics Association.

Dr. Brown's primary scientific interests are the physical properties of fractured and otherwise heterogeneous rock and the application of geophysical methods to mining, energy, and environmental problems. His work combines field geologic and geophysical studies and mapping, experimental geophysics in the laboratory, computer modeling, and theoretical work. Field work has involved various fracture and fault mapping projects where the results have been placed in the context of theoretical models. In the course of this work, he has also invented, designed, and built unique laboratory and field apparatuses for measurement of physical processes; and has successfully designed, written, and used accompanying specialty software for data acquisition and analysis. Specific technical skills applied in these projects are manufacturing and prototyping using machining, metalwork, and casting, analog and digital electronics design and assembly, integration of micro-controllers into instrumentation, ELF and VLF radio receiver and antenna design and construction, radio remote control of instrumentation and data logging, laser imaging and ranging equipment design, assembly, and use, time series analysis, image analysis and processing, and numerical modeling of elastic, electrical, and fluid transport processes. He has published more than 40 peer-reviewed research articles in technical journals. Dr. Brown is the son of Ray C. Brown, Unico's former Chairman of the Board of Directors.

Dr. Brown graduated from the University of Utah with a Bachelor of Science degree in Geology. He was subsequently awarded a Master of Arts in Geology, a Master of Philosophy in Geology, and a Ph.D. in Geology from Columbia University.

Ernest H. Kuhn has significant experience in accounting and financial oversight positions, including accountant, controller, finance manager, chief accounting officer and chief financial officer, for a variety of companies and organizations. From 2007 to the present, Mr. Kuhn has served as chief financial officer Tilley Exploration and Development Co. of Bountiful, Utah where he has performed all accounting, tax, legal, cash management and other administrative functions; implemented internal controls relative to a small business; produced timely, accurate and relevant reports for management, clients and other third parties; and researched operations and procedures of the mining industry. From 2006 to 2007, Mr. Kuhn was the controller for NAI Utah Commercial Real Estate Services where his responsibilities included creating standard operating procedures and training staff; supervising accounting staff and reporting to clients; overseeing management of client funds; and establishing and monitoring internal controls.

From 1981 to 2006, Mr. Kuhn served in a variety of positions, including finance manager, data processing manager, and chief accounting officer for Property Reserve Inc., the real estate arm of The Church of Jesus Christ of Latter-day Saints. As finance manager his responsibilities included organizing accounting operations independent of the Church; project accounting for capital projects from planning to finish; creating policies and procedures in conformity with GAAP; monitoring compliance; overseeing corporate accounting and staff in conformity with Sarbanes-Oxley; assuring accuracy, punctuality and presentation of data based on GAAP principles; measuring performance of portfolios and properties; administering treasury services functions; and internal auditing of fee managed properties and business operations. Prior to 1981, Mr. Kuhn's positions included finance manager for the Southern California Gas Company and staff accountant for Arthur Andersen and Company. Mr. Kuhn is a graduate of Brigham Young University where he earned a Bachelor of Science in Accounting and a Bachelor of Science in Mathematics.

David A. Gillespie has a proven record of success in leadership positions for businesses in a variety of sectors including renewable energy, electric utility and merchant power generation. Since 2006, Mr. Gillespie has held the position of president and chief executive officer for DAG Associates, LLC, a specialty consulting firm providing strategic advisory services and contract negotiation support to utility and public sector clients. From 2006 to 2009, Mr. Gillespie served as president and chief executive officer of New Generation Biofuels Holdings, Inc. (NGBF), a NASDAQ listed renewable fuel producer. In this role, Mr. Gillespie was responsible for all aspects of this start-up enterprise including financing, marketing, and the development of the company's 5MM gal/yr production facility.

Prior to joining NGBF, Mr. Gillespie held senior leadership positions at Duke Energy Corp. (DUK) and the United Illuminating Co (UIL). Mr. Gillespie received his MBA from the Rensselaer Polytechnic Institute, Hartford, Connecticut, and his BSME from the Worcester Polytechnic Institute, Worcester, Massachusetts.

Biographical information for Mr. Lopez and Dr. Winders can be found in the management section of the company's website.

Shareholders who would like to sign up to receive information by email directly from Unico, Inc., including when newsletters are posted to the company website, are asked to visit the company's website at [ http://www.unicomining.com/IR/mailinglist.php ] and fill in the appropriate fields.

About Unico, Inc.

Unico, Inc. (OTCBB: [ UNCO ]) 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. Unico has also announced agreements to acquire over 70 additional mining claims in the area of the Deer Trail Mine including the Clyde and Crown Point mining claims. For more information, please visit [ www.unicomining.com ].

Forward-Looking Statements: 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.