Blackboxstocks merger target REalloys appoints Bob Foresman to board

Blackboxstocks Inc. (NASDAQ: BLBX) announced that its merger target REalloys Inc. has entered into an agreement to appoint Bob Foresman to its board of directors. Foresman will formally join the REalloys board upon completion of the merger between the two companies.

Blackboxstocks' registration statement on Form S-4 has been declared effective by the Securities and Exchange Commission. The companies expect to complete the merger pending customary closing conditions, including NASDAQ listing approval.

Foresman currently serves as Vice Chairman of KingsRock Advisors and previously held the position of Vice Chairman of UBS Investment Bank from 2016 to 2020. His career includes senior leadership roles at Barclays, Renaissance Capital, Dresdner Kleinwort Wasserstein, ING Barings, and the International Finance Corporation.

"We are fortunate to add a distinguished capital markets expert to the REalloys Board of Directors," said Leonard Sternheim, CEO of REalloys. "Bob's experience as Vice Chairman of UBS and his decades of leadership in global capital markets significantly strengthen our governance."

Foresman will serve on the Audit Committee of REalloys and act as the committee's qualified financial expert. His appointment follows the recent addition of General Jack Keane to the board.

Upon completion of the merger, REalloys will operate as a publicly traded company focused on a North American rare earth supply chain. The company's operations include the Hoidas Lake rare-earth asset in Saskatchewan and manufacturing facilities in Euclid, Ohio, serving federal agencies including the Department of Defense, Department of Energy, and NASA.

The information is based on a company press release.

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