SOURCE: Unico, Inc.

Unico, Inc.

February 17, 2010 12:20 ET

Unico, Inc. Announces Settlement of Derivative Action

SAN DIEGO, CA--(Marketwire - February 17, 2010) - Unico, Incorporated (OTCBB: UNCO), a natural resource company in the precious metals mining sector, today announced the approval of a Settlement Agreement dated November 13, 2009 in the case of Sullivan, et al v. Brown, et al (Case No.: 37-2008-00089801-CU-PN-CTL) filed in the San Diego Superior Court, Central Division. As a result of the approval of the settlement, the court has dismissed with prejudice the entire Action. The Settlement Agreement is posted on the company's corporate website, www.unicomining.com.

In the posted Settlement Notice, Unico, Incorporated denied the allegations in the Action. The directors and officers of Unico Incorporated maintain they have always acted in the best interests of the corporation and its shareholders. To avoid the expense, inconvenience, and uncertainty of further litigation, the parties agreed to settle the Shareholder Derivative Action.

As part of the Settlement Agreement, the court awarded the Plaintiff's Counsel $448,828.05 for attorney's fees and $28,671.95 for reimbursement of expenses. Each of the named plaintiffs was awarded $7,500 as an incentive award for their efforts in the Action. The amounts awarded will be paid through the company's directors and officers liability insurance policy.

As part of the settlement, Plaintiffs, Plaintiff's Counsel, Unico's shareholders derivatively on behalf of Unico, and Unico, including their heirs, executors and administrators, predecessors, successors and assigns, all of their officers, agents, employees, attorneys, all persons in privity with them, and all persons acting in concert or participation with them, either directly, indirectly, representatively, or in any other capacity are forever restrained and enjoined from prosecuting, pursuing, or litigating any of the Released Claims against any of the Released Persons in this or any other forum.

"We are happy to be putting the uncertainty caused by this litigation behind us, so we can move forward and focus on the further development of our Deer Trail Mine property," commented Mark A. Lopez, President/CEO of Unico, Inc. "While always confident in our position, we believe that this settlement limits further litigation expense, inconvenience and distraction to key executive personnel and permits us to move into a more positive direction for the overall betterment of the company."

About Unico, Incorporated

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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