The merger between Blackboxstocks Inc. and REalloys Inc. closed on February 24, 2026, with the combined company beginning trading on the Nasdaq Capital Market under the ticker symbol "ALOY" on February 25, 2026. This transaction establishes a publicly traded, vertically integrated North American platform dedicated to heavy rare earth production, specifically designed to operate with zero reliance on Chinese supply chains. This development comes at a critical juncture as U.S. national security and defense procurement priorities increasingly demand secure, domestic sources for these essential materials.
The strategic importance of this merger lies in its direct alignment with anticipated U.S. defense procurement restrictions expected by 2027. REalloys is positioned to serve federal logistics and procurement channels supporting the Defense Industrial Base, aiming to become the largest producer of heavy rare earth oxides and metals outside of China by the first half of 2027. The company's compliance advantage as a zero-China nexus supplier is central to its value proposition for defense and protected industrial markets. More information on the company can be found at https://www.realloys.com.
REalloys' integrated "mine-to-magnet" strategy encompasses upstream, midstream, and downstream operations. Its upstream foundation includes the 100% owned Hoidas Lake rare earth asset in Saskatchewan and partnerships with entities like U.S. government-backed Mission Critical Materials. The midstream strategy involves expanding North American separation and metallization capabilities in partnership with the Saskatchewan Research Council. Downstream, the company operates through its 100% owned PMT Critical Metals facility in Euclid, Ohio, described as the only advanced heavy rare earth metallization facility in the continental U.S. This facility serves agencies including the U.S. Department of Defense, Department of Energy, and NASA.
The company highlights an advanced execution profile with existing infrastructure, phased expansion plans, and reduced permitting risk compared to greenfield projects. Its feedstock diversification strategy is designed to be agnostic, utilizing allied and domestic sources to mitigate supply concentration risks. A key downstream initiative includes collaboration with the Japan Organization for Metals and Energy Security (JOGMEC) to support high-performance magnet manufacturing for strategic markets. The merger agreement included a dividend of one contingent value right for each share of Blackboxstocks common stock outstanding at the record date, representing rights to cash payments related to historical operations. Investors can find more news relating to Blackboxstocks at https://tinyurl.com/blbxnewsroom.
The emergence of REalloys as a public company represents a significant step in reducing Western dependence on Chinese rare earth elements, which are vital for defense technologies, clean energy, and advanced manufacturing. By creating a coordinated North American supply chain from resource extraction to finished magnet components, the company addresses a critical vulnerability in national security supply chains. This development could have substantial implications for the defense sector, advanced manufacturing industries, and U.S. policy objectives around critical mineral independence.
