Wilmington Securities, a Delaware subsidiary of The Hillman Co., controlled by Pittsburgh industrialist Henry Hillman, has agreed in principle to purchase 200,000 shares of Cal Graphite at $10(US) per share. The purchase would boost the Hillman holdings to about 15%.
The agreement also gives Wilmington a short-term option to purchase up to 100,000 additional shares from the company at $10 per share.
Cal Graphite is hoping to have its large crystalline flake graphite project at Kearney, north of Huntsville in central Ontario, in production early in the new year.
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