Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 302

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1A
Chunk 302
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We
may, in connection with our initial business combination or otherwise, subject to requisite shareholder approval by special resolution
under the Companies Act (with respect to which only holders of Class B Ordinary Shares will have the right to vote), reincorporate
in or transfer by way of continuation to the jurisdiction in which the target company or business is located or in another jurisdiction.
The transaction may require a shareholder or right holder to recognize taxable income in the jurisdiction in which the shareholder or
right holder is a tax resident or in which its members are resident if it is a tax transparent entity (or may otherwise result in adverse
tax consequences). We do not intend to make any cash distributions to shareholders or right holders to pay such taxes. Shareholders or
right holders may be subject to withholding taxes or other taxes with respect to their ownership of us after the reincorporation or continuance.

After
our initial business combination, it is possible that a majority of our directors and officers will live outside the United States
and all of our assets will be located outside the United States; therefore, investors may not be able to enforce federal securities
laws or their other legal rights.

It
is possible that after our initial business combination, a majority of our directors and officers will reside outside of the United States
and all of our assets will be located outside of the United States. As a result, it may be difficult, or in some cases not possible,
for investors in the United States to enforce their legal rights, to effect service of process upon all of our directors or officers
or to enforce judgments of United States courts predicated upon civil liabilities and criminal penalties on our directors and officers
under United States laws.

If
our initial business combination involves a company organized under the laws of the United States (or any subdivision thereof),
it is possible a U.S. federal excise tax could be imposed on us in connection with any redemptions of our ordinary shares after
or in connection with such initial business combination.

The
Inflation Reduction Act of 2022, which, among other things, imposes a 1% U.S. federal excise tax on certain repurchases
(including redemptions) of stock by publicly traded U.S. corporations after December 31, 2022 (the “Excise Tax”),
subject to certain exceptions. If applicable, the amount of the Excise Tax is generally 1% of the aggregate fair market value of