SOURCE: Unico, Inc.

Unico, Inc.

January 14, 2010 09:00 ET

Unico, Inc. Announces Formation of Audit Committee to Enhance Independent Oversight of the Company's Financial Affairs

Committee Will Oversee the Company's Accounting and Financial Reporting Processes; Director and CPA Ernest H. Kuhn Is Appointed to Chair the Committee

SAN DIEGO, CA--(Marketwire - January 14, 2010) - Unico, Incorporated (OTCBB: UNCO), a natural resource company in the precious metals mining sector, today announced the formation of an Audit Committee of the Board of Directors for the purpose of enhancing the quality and independence of the Board's oversight of the Company's financial affairs. The Audit Committee's primary function will be to oversee accounting, internal controls and financial reporting processes as well as to perform audits of the financial statements and other internal processes.

The Board appointed independent Directors Ernest H. Kuhn, Edward E. Winders and David A. Gillespie to serve on the Audit Committee for a term of one year, and Mr. Kuhn was appointed as the Chairman of the Audit Committee also for a term of one year. Mr. Kuhn will also serve in the role as "financial expert" as defined by the Securities and Exchange Commission.

Mr. Kuhn, a Certified Public Accountant, possesses more than thirty years of professional experience. His expertise covers all aspects of financial management including but not limited to a working knowledge of federal and Utah state government tax reporting requirements, GAAP required internal controls, auditing, fully computerized recordkeeping, and preparation of the financial segments of capital projects.

To further define the role of the Audit Committee, the Board also formulated and approved a charter for the Audit Committee, which sets forth the responsibilities and powers of the Audit Committee in addition to those specified by applicable laws, rules and regulations for audit committees of public companies. The charter will be posted to the Company's website, www.unicomining.com, shortly.

Dr. Winders, who also serves as Chairman of the Board of Directors, stated, "Creation of this important committee, chaired by a highly qualified CPA, along with the adoption of a comprehensive charter, is another step in the progress we are making to improve and expand the professionalism and productivity of Unico as well as our responsiveness to company shareholders."

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.

Contact Information

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    Gemini Financial Communications, Inc.
    Investor Relations
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