Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 285

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1A
Chunk 285
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 its presentation to us.

Our
officers and directors presently and in the future may have additional, fiduciary or contractual obligations to other entities pursuant
to which such officer or director is or will be required to present a business combination opportunity. Accordingly, if any of our officers
or directors becomes aware of a business combination opportunity which is suitable for an entity to which he or she has then-current fiduciary
or contractual obligations, he or she will honor his or her fiduciary or contractual obligations to present such opportunity to such
entity. In addition, certain of our officers and directors are members of our sponsor and own membership interests of our sponsor. The
remaining membership interests are held by third party investors that are not affiliated with members of our management. We do not believe,
however, that the fiduciary duties or contractual obligations of our officers or directors will materially affect our ability to complete
our business combination. Our amended and restated memorandum and articles of association provides that, to the fullest extent permitted
by applicable law: (i) no individual serving as a director or an officer shall have any duty, except and to the extent expressly
assumed by contract, to refrain from engaging directly or indirectly in the same or similar business activities or lines of business
as us, and (ii) we renounce any interest or expectancy in, or in being offered an opportunity to participate in, any potential transaction
or matter which may be a corporate opportunity for any director or officer, on the one hand, and us, on the other. The purpose for the
surrender of corporate opportunities is to allow officers, directors or other representatives with multiple business affiliations to
continue to serve as an officer of our company or on our board of directors. Our officers and directors may from time to time be presented
with opportunities that could benefit both another business affiliation and us. In the absence of the “corporate opportunity”
waiver in our charter, certain candidates would not be able to serve as an officer or director. We believe we substantially benefit from
having representatives who bring significant, relevant and valuable experience to our management, and, as a result, the inclusion of
the “corporate opportunity” waiver in our amended and restated memorandum and articles of association provides us with greater
flexibility to attract and retain the officers and directors that we feel are the best candidates. We do not believe, however, that the
fiduciary duties or contractual obligations of our officers or directors will materially affect our