Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 647

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 4
Chunk 647
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 compensation committee; and a nominating and corporate governance committee. Subject to phase-in rules, the
Nasdaq listing rules and Rule 10A-3 of the Exchange Act require that the audit committee of a listed company be comprised
solely of independent directors, and Nasdaq listing rules require that the compensation committee and the nominating and corporate governance
committee of a listed company be comprised solely of independent directors. Each committee operates under a charter that has been approved
by our board of directors and has the composition and responsibilities described below.

Audit Committee

We have established an audit committee of the board
of directors. The initial members of our audit committee are Jaime W. Vieser, Michael Marquez and Jeffrey T. Lager, each of
whom meet the independent director standard under Nasdaq listing standards and under Rule 10-A-3(b)(1) of the Exchange Act.
Mr. Michael Marquez will serve as chairperson of the audit committee.

Each member of the audit committee is financially
literate and our board of directors has determined that each of Jaime W. Vieser, Michael Marquez and Jeffrey T. Lager qualifies
as an “audit committee financial expert” as defined in applicable SEC rules and has accounting or related financial management
expertise.

We have adopted an audit committee charter, which
details the principal functions of the audit committee, including:

●assisting board oversight of (1) the integrity of our
financial statements, (2) our compliance with legal and regulatory requirements, (3) our independent auditor’s qualifications
and independence, and (4) the performance of our internal audit function and independent auditors; the appointment, compensation,
retention, replacement, and oversight of the work of the independent auditors and any other independent registered public accounting
firm engaged by us;

●pre-approving all audit and non-audit services
to be provided by the independent auditors or any other registered public accounting firm engaged by us, and establishing pre-approval policies
and procedures; reviewing and discussing with the independent auditors all relationships the auditors have with us in order to evaluate
their continued independence;

●setting clear policies for audit partner rotation in compliance
with applicable laws and regulations; obtaining and reviewing a report, at least annually, from the independent auditors describing (1) the
independent auditor’s internal quality-control procedures and (2) any material