REalloys names GM Defense president as board chairman

REalloys Inc., the merger target of Blackboxstocks Inc. (NASDAQ: BLBX), has appointed Stephen duMont as non-executive chairman of its board of directors. duMont serves as president of GM Defense, a division of General Motors (NYSE: GM).

The appointment follows REalloys' recent 10-year, 6.75 million ton offtake agreement with Critical Metals Corp. (NASDAQ: CRML). duMont brings three decades of experience in defense, aerospace, and national security, including senior roles at Raytheon Technologies, BAE Systems, and Boeing, along with service as a U.S. Army attack helicopter pilot.

REalloys also announced a leadership change, with David Argyle resigning as chief executive officer and director. Leonard Sternheim, the company's founder and former executive chairman, has been appointed as the new CEO.

duMont joins a board that includes Ambassador David MacNaughton, former Canadian Ambassador to the United States and founding president of Palantir Canada, and Brad Wall, former Premier of Saskatchewan. At GM Defense, duMont leads the development of mobility, autonomous systems, and battery-electric solutions for defense customers.

REalloys is developing a North American rare earth supply chain, including the Hoidas Lake project with an estimated 2,153,000 tons of rare earth oxides in measured and indicated categories. The company operates processing facilities in Euclid, Ohio, and is planning a merger with Blackboxstocks Inc.

The information is based on a press release statement from the companies.

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