The completion of the merger between Blackboxstocks Inc. and REalloys Inc. creates a vertically integrated North American heavy rare earth platform designed to operate with a zero-China nexus supply chain aligned with U.S. defense procurement priorities. The combined company, expected to trade on the Nasdaq Capital Market under the ticker symbol "ALOY," positions itself to become the largest producer of heavy rare earth oxides and metals outside of China by the first half of 2027. This strategic move responds to growing geopolitical considerations and national security priorities that emphasize the need for China-independent rare earth capabilities.
The platform is specifically designed to comply with anticipated 2027 U.S. defense procurement restrictions and currently services federal logistics and procurement channels supporting the Defense Industrial Base. The company's integrated mine-to-magnet strategy encompasses upstream resource development through its 100% owned Hoidas Lake rare earth asset in Saskatchewan and partnerships with U.S. government-backed Mission Critical Materials. Midstream operations include expansion of North American separation, refining, and metallization capabilities in partnership with the Saskatchewan Research Council.
Downstream operations center around PMT Critical Metals, described as the only advanced heavy rare earth metallization facility in the continental U.S., serving federal agencies including the Department of Defense, Department of Energy, and NASA. REalloys employs a feedstock diversification strategy designed to be feedstock-agnostic, utilizing allied and domestic sources to mitigate supply concentration risk. The company's advanced execution profile leverages existing infrastructure with phased expansion plans, comparatively limited incremental capital requirements, and reduced permitting risk relative to greenfield development projects.
The merger agreement included authorization for a dividend of one contingent value right for each share of common stock outstanding at the record date of February 23, 2026. These CVRs represent rights to receive cash payments in connection with certain transactions involving assets previously owned by Blackbox.io Inc., a wholly owned subsidiary organized to conduct historical operations of Blackboxstocks. Additional information about the company is available at https://www.realloys.com. The company's forward-looking statements and risk factors are detailed in its filings with the Securities and Exchange Commission, available at https://www.sec.gov.
