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 follows the recent addition of General Jack Keane to the board and comes as the companies' registration statement on Form S-4 has been declared effective by the U.S. Securities and Exchange Commission. The merger is expected to close in the near term, subject to customary conditions including NASDAQ listing approval.
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 the bank'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. 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,” said Leonard Sternheim, CEO of REalloys. “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.”
Mr. 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.”
Mr. 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 expands 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 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, REalloys is building a platform to scale North American midstream separation, refining, and metallization capabilities. Those refined materials feed into REalloys' downstream manufacturing operations in Euclid, Ohio, where it 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 NASA.
For more information, visit www.realloys.com or https://blackboxstocks.com/.
