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 the closing of the merger. The announcement comes as 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 soon, subject to customary closing conditions including NASDAQ listing approval.
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. His career includes senior leadership positions at Barclays, Renaissance Capital, Dresdner Kleinwort Wasserstein, and ING Barings, as well as work with the International Finance Corporation of the 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.
REalloys CEO Leonard Sternheim stated, "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."
Foresman will serve on the Audit Committee of REalloys and act as the committee's qualified financial expert, reinforcing financial oversight as the company transitions to public markets. His appointment follows the recent addition of General Jack Keane (U.S. Army, Ret.) to the Board, further expanding a leadership group that includes Board Chairman Stephen S. duMont and Directors Ambassador David MacNaughton and The Honorable Brad Wall.
REalloys is advancing a vertically integrated North American heavy rare earth and defense-focused feedstock-to-magnet supply chain. Its upstream foundation includes the Hoidas Lake rare-earth asset in Saskatchewan and a 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. These refined materials feed into downstream manufacturing operations in Euclid, Ohio, where the company produces advanced alloys and magnet components for defense, clean-energy, and high-performance industrial applications, serving federal agencies including the Department of Defense, Department of Energy, and NASA.
The merger with Blackboxstocks, a financial technology and social media platform, will create a publicly traded company focused on critical mineral supply chain security. Blackboxstocks' platform provides real-time analytics for stock and options traders, and its base of users spans over 40 countries. Upon completion, REalloys will operate as a publicly traded company under the REalloys name, with the combined entity focusing on scaling domestic rare earth production.
Foresman commented, "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."
For more information about REalloys, visit www.realloys.com. For more information about Blackboxstocks, visit https://blackboxstocks.com/.
