REalloys Inc., the merger target of Blackboxstocks Inc. (NASDAQ: BLBX), has entered into a designate director agreement with Bob Foresman, who will formally join the REalloys Board of Directors upon the closing of the merger between the two companies. This appointment follows the recent addition of General Jack Keane (U.S. Army, Ret.) to the board and occurs as the U.S. Securities and Exchange Commission has declared Blackboxstocks' registration statement on Form S-4 effective. The companies expect to complete the merger in the near term, subject to customary closing conditions including NASDAQ listing approval.
Upon completion, REalloys will operate as a publicly traded company advancing a vertically integrated North American heavy rare earth and defense-focused feedstock-to-magnet supply chain. Mr. Foresman's appointment is seen as a significant step in strengthening the company's governance as it transitions to the public markets. He currently serves as Vice Chairman of KingsRock Advisors and previously served as Vice Chairman of UBS Investment Bank from 2016 to 2020, where he was one of UBS's most senior global origination and client coverage bankers.
Leonard Sternheim, CEO of REalloys, stated that the company is fortunate to add a distinguished capital markets expert to its board. "As we approach completion of our merger and anticipated NASDAQ listing, Bob's experience as Vice Chairman of UBS and his decades of leadership in global capital markets significantly strengthen our governance and enhance our ability to execute with discipline as we scale our integrated rare earth platform," Sternheim said.
Mr. Foresman will serve on the Audit Committee of REalloys and will act as the committee's qualified financial expert, reinforcing REalloys' financial oversight and governance framework. He brings extensive experience in capital markets strategy, governance oversight, and cross-border transactions from his career at Barclays, Renaissance Capital, Dresdner Kleinwort Wasserstein, and ING Barings, and his work with the International Finance Corporation (World Bank Group). He has also served on numerous NYSE- and NASDAQ-listed company boards.
"REalloys is an innovative company building a fully integrated North American heavy rare earth, defense-focused feedstock-to-magnet platform at a time when secure supply chains and domestic processing capabilities are strategically essential," Mr. Foresman said. "With NASDAQ listing approval pending, the Company is entering a transformative phase. I am honored to join the Board and contribute to strengthening financial oversight and supporting strategic growth as REalloys advances its mission to become the largest heavy rare earth oxide, metal and magnet producer outside of China."
The company's upstream foundation includes its Hoidas Lake rare-earth asset in Saskatchewan and a diversified network of allied feedstock and recycling partners. Together with the Saskatchewan Research Council, REalloys is building a platform to scale North American midstream separation, refining, and metallization capabilities. Those refined materials feed directly into REalloys' downstream manufacturing operations in Euclid, Ohio, where the company produces advanced alloys and magnet components for defense, clean-energy, and high-performance industrial applications. The Ohio facility serves federal logistics and procurement agencies supporting the Department of Defense, Department of Energy, and National Aeronautics and Space Administration, in addition to the broader Defense Industrial Base and Organic Industrial Base. More information about the company is available at https://www.realloys.com.
Investors and security holders are urged to read the merger registration statement and other documents relating to the merger that were and will be filed with the SEC carefully and in their entirety when they become available because they will contain important information about the merger. These documents can be obtained free of charge through the website maintained by the SEC at http://www.sec.gov. The documents filed by Blackboxstocks may also be obtained free of charge from the company's website at https://blackboxstocks.com.
