Blackboxstocks Inc. (NASDAQ: BLBX) announced 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 (U.S. Army, Ret.) to the board and comes as the companies’ registration statement on Form S-4 has been declared effective by the SEC. Pending NASDAQ listing approval, the merger is expected to close in the near term.
Bob 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 roles at Barclays, Renaissance Capital, Dresdner Kleinwort Wasserstein, and ING Barings, as well as work with the International Finance Corporation (World Bank Group). He has served on numerous NYSE- and NASDAQ-listed company boards, bringing 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. 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,” said Leonard Sternheim, CEO of REalloys.
Foresman will serve on the Audit Committee of REalloys and act as the committee’s qualified financial expert, reinforcing the company’s financial oversight and governance framework as it transitions to public markets. His appointment expands a leadership group that includes Board Chairman Stephen S. duMont, Ambassador David MacNaughton, and The Honorable Brad Wall.
Upon completion of the merger, REalloys will operate as a publicly traded company advancing a vertically integrated North American heavy rare earth and defense focused feedstock-to-magnet supply chain. The company’s upstream foundation includes its Hoidas Lake rare-earth asset in Saskatchewan and a network of allied feedstock and recycling partners. Together with the Saskatchewan Research Council (SRC), REalloys is building a platform to scale midstream separation, refining, and metallization capabilities. Those 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.
“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,” said Bob Foresman.
Blackboxstocks Inc. is a financial technology and social media hybrid platform offering real-time proprietary analytics and news for stock and options traders. For more information, visit https://blackboxstocks.com/. Information about REalloys is available at www.realloys.com.
