REalloys Inc., the merger target of Blackboxstocks Inc. (NASDAQ: BLBX), has appointed former UBS Investment Bank Vice Chairman Bob Foresman to its board of directors, marking the second high-profile addition to its leadership team as it prepares to become a publicly traded company. The appointment comes after the U.S. Securities and Exchange Commission declared Blackboxstocks' registration statement on Form S-4 effective, with the merger expected to close pending NASDAQ listing approval.
Upon completion of the merger, REalloys will operate as a publicly traded company focused on creating a vertically integrated North American heavy rare earth and defense-focused feedstock-to-magnet supply chain. This development is significant as it addresses growing concerns about supply chain security for critical minerals essential to defense systems, clean energy technologies, and high-performance industrial applications.
Mr. Foresman brings extensive capital markets experience to REalloys, having served as Vice Chairman of UBS Investment Bank from 2016 to 2020 and holding senior leadership positions at Barclays, Renaissance Capital, and other major financial institutions. He currently serves as Vice Chairman of KingsRock Advisors and has served on numerous NYSE- and NASDAQ-listed company boards. His appointment follows the recent addition of General Jack Keane (U.S. Army, Ret.) to the board, creating a leadership team with both financial and defense expertise.
"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 will serve on the Audit Committee and act as the committee's qualified financial expert, reinforcing REalloys' financial oversight as it transitions to public markets. He expressed enthusiasm for joining the board, stating, "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."
The company's operations span upstream resource development through its Hoidas Lake rare-earth asset in Saskatchewan, midstream processing in partnership with the Saskatchewan Research Council, and downstream manufacturing at its facility in Euclid, Ohio. This integrated approach positions REalloys to serve federal agencies including the Department of Defense, Department of Energy, and NASA, as well as the broader Defense Industrial Base.
Investors can obtain more information about the merger through documents filed with the SEC at http://www.sec.gov or from Blackboxstocks' website at https://blackboxstocks.com. The merger represents a strategic move to create a North American alternative to China's dominance in rare earth production, with implications for national security, clean energy development, and industrial competitiveness.
