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 closing of the merger. The announcement follows the SEC declaring Blackboxstocks' Form S-4 effective, with the merger expected to close pending NASDAQ listing approval.
Mr. Foresman, former Vice Chairman of UBS Investment Bank from 2016 to 2020, brings extensive capital markets expertise. He currently serves as Vice Chairman of KingsRock Advisors and has held senior leadership roles at Barclays, Renaissance Capital, and other major financial institutions. His appointment is intended to strengthen REalloys' governance and financial oversight as the combined company transitions to a public entity.
Leonard Sternheim, CEO of REalloys, stated, "We are fortunate to add a distinguished capital markets expert to the REalloys Board of Directors. 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 as a qualified financial expert. His addition follows the recent appointment of General Jack Keane (U.S. Army, Ret.) to the board, expanding a leadership group that includes Chairman Stephen S. duMont, Ambassador David MacNaughton, and The Honorable Brad Wall.
The merger between Blackboxstocks and REalloys aims to advance a vertically integrated North American heavy rare earth and defense-focused supply chain, from feedstock to magnets. REalloys' operations include the Hoidas Lake rare-earth asset in Saskatchewan, a partnership with the Saskatchewan Research Council for midstream separation and refining, and a downstream manufacturing facility in Euclid, Ohio, serving defense and energy agencies.
Blackboxstocks, a financial technology and social media platform, provides real-time analytics for stock and options traders. The combined company is expected to leverage public markets to scale REalloys' rare earth capabilities.
For more information about REalloys, visit www.realloys.com. For details on Blackboxstocks, see https://blackboxstocks.com/.
