Blackboxstocks Inc. (NASDAQ: BLBX) announced today that its merger target, REalloys Inc., has entered into a designate director agreement with Bob Foresman, who will join the REalloys Board of Directors upon closing of the merger. The appointment follows the recent addition of General Jack Keane (U.S. Army, Ret.) and further strengthens a leadership group that includes Board Chairman Stephen S. duMont, Ambassador David MacNaughton, and The Honorable Brad Wall.
Blackboxstocks' registration statement on Form S-4 has been declared effective by the U.S. Securities and Exchange Commission, and 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 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. Over his career, he has held senior leadership positions at Barclays, Renaissance Capital, Dresdner Kleinwort Wasserstein, and ING Barings, and worked with the International Finance Corporation (World Bank Group). He has served on numerous NYSE- and NASDAQ-listed company boards and brings extensive experience in capital markets strategy, governance oversight, and cross-border transactions.
"We are fortunate to add a distinguished capital markets expert to the REalloys Board of Directors. 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," said Leonard Sternheim, CEO of REalloys.
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 as it transitions to the public markets. "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. 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," said Mr. Foresman.
REalloys is advancing a fully integrated North American mine-to-magnet supply chain encompassing upstream resource development, midstream processing, and downstream manufacturing. 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 ("SRC"), 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. REalloys' Ohio facility serves federal logistics and procurement agencies supporting the Department of Defense, Department of Energy, and NASA.
This merger and board appointment underscore the strategic importance of establishing a domestic heavy rare earth supply chain. With China dominating global production, REalloys aims to become the largest producer outside China, addressing critical supply vulnerabilities for defense and clean-energy sectors. The addition of Foresman's capital markets expertise positions the company to secure financing and navigate public markets as it scales operations. For more information, visit Blackboxstocks or REalloys.
