Blackboxstocks Inc. (NASDAQ: BLBX) Merger Target REalloys, Inc. Names Stephen duMont, President of GM Defense at General Motors (NYSE: GM), as Non-Executive Chairman of the Board
Leadership Expansion at REalloys: REalloys has appointed Stephen S. duMont, President of GM Defense, as the non-executive Chairman of its Board, enhancing its leadership team to strengthen North America's industrial resilience and secure supply chains amid global competition.
Strategic Supply Chain Initiatives: The company is advancing a North American mine-to-magnet supply chain, highlighted by a recent 10-year, 6.75 million ton offtake agreement with Critical Metals Corp., aiming to ensure independence from Chinese supply chains and bolster defense capabilities.
Board Composition and Expertise: DuMont joins a distinguished board that includes former Canadian Ambassador David MacNaughton and former Saskatchewan Premier Brad Wall, bringing significant diplomatic and industrial expertise to support REalloys' mission in defense and strategic industries.
Operational Developments: REalloys is rapidly scaling its operations, including expanding its Ohio facility and advancing its Hoidas Lake project, to meet the growing demand for rare earth materials critical to Western defense and technological leadership.
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Blackboxstocks Falls 14% Despite Announcement of Rare-Earth Supply Chain MOU
Stock Performance: Blackboxstocks Inc. (BLBX) experienced a 14.28% decline, trading at $8.14 after the announcement of a merger target, REAlloys Inc., signing a strategic MOU with Japan's JOGMEC.
MOU Details: The Memorandum of Understanding focuses on collaboration for technology transfer, investment, and allocation of rare-earth resources from REAlloys' projects in Canada and Brazil to support the U.S.-Japan supply chain.
Trading Activity: On the day of the announcement, BLBX opened at $9.45, reached a high of $9.60, and a low of $7.95, with trading volume exceeding average levels.
Stock Range: The stock's 52-week trading range is noted to be between $5.21 and $11.30.
Blackboxstocks Inc. (NASDAQ: BLBX) Merger Target REAlloys Inc. Partners with Japan's JOGMEC to Enhance U.S.-Japan Rare Earth Supply Chain Through Strategic MOU
Merger Announcement: Blackboxstocks Inc. announced that its merger target, REAlloys Inc., has signed a Memorandum of Understanding with JOGMEC to collaborate on rare earth development and technology transfer, marking JOGMEC's first partnership with a U.S. rare earth company.
Strategic Collaboration: The MOU aims to enhance the U.S.-Japan Alliance by developing high-performance rare earth materials and magnets, supporting defense and semiconductor applications, and ensuring supply chain independence from China.
Investment and Resource Allocation: The collaboration will explore investments in REAlloys' North American supply chain and allocate resources from REAlloys' projects to Japanese users, complementing commitments to U.S. defense and energy programs.
Innovative Opportunities: The partnership will also investigate additional innovative collaborations, including the licensing of seabed resource technologies and the establishment of structured offtake agreements for stable access to rare earth materials.
