REalloys Inc., the merger target of Blackboxstocks Inc., has appointed Bob Foresman to its board of directors through a designate director agreement that will become effective upon completion of the merger between the two companies. This appointment follows the recent addition of General Jack Keane to the board and coincides with the U.S. Securities and Exchange Commission declaring Blackboxstocks' registration statement effective, with the merger expected to close soon subject to customary conditions including NASDAQ listing approval.
Upon merger completion, REalloys will operate as a publicly traded company developing a vertically integrated North American heavy rare earth and defense-focused supply chain from feedstock to magnets. Foresman's appointment represents a strategic move to strengthen corporate governance during the transition to public markets. He currently serves as Vice Chairman of KingsRock Advisors and previously held the position of Vice Chairman at UBS Investment Bank from 2016 to 2020, where he was one of the bank's most senior global origination and client coverage bankers.
Leonard Sternheim, CEO of REalloys, emphasized the significance of adding a distinguished capital markets expert to the board. "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," Sternheim stated.
Foresman will serve on REalloys' Audit Committee as the qualified financial expert, reinforcing the company's financial oversight and governance framework. His extensive background includes capital markets strategy, governance oversight, and cross-border transactions from positions at Barclays, Renaissance Capital, Dresdner Kleinwort Wasserstein, and ING Barings, along with work with the International Finance Corporation of the World Bank Group. He has also served on numerous NYSE- and NASDAQ-listed company boards.
"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," Foresman said. "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."
The company's operations span multiple stages of the rare earth supply chain. Its upstream foundation includes the Hoidas Lake rare-earth asset in Saskatchewan and a diversified network of allied feedstock and recycling partners. In partnership with the Saskatchewan Research Council, REalloys is developing a platform to scale North American midstream separation, refining, and metallization capabilities. These refined materials supply 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. The Ohio facility serves federal logistics and procurement agencies supporting the Department of Defense, Department of Energy, and National Aeronautics and Space Administration, along with the broader Defense Industrial Base and Organic Industrial Base. More information about the company is available at https://www.realloys.com.
Investors and security holders are encouraged to review the merger registration statement and related documents filed with the SEC, which contain important information about the transaction. These documents can be accessed free of charge through the SEC's website at http://www.sec.gov. Documents filed by Blackboxstocks may also be obtained free of charge from the company's website at https://blackboxstocks.com.
