Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 146

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1
Chunk 146
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 a result, our management may not be able to ascertain or assess adequately
all of the relevant risk factors. Accordingly, any shareholders who choose to remain shareholders following our initial business combination
could suffer a reduction in the value of their shares. Such shareholders are unlikely to have a remedy for such reduction in value.

We
are dependent upon our executive officers and directors and their loss, or a reduction in the amount of time they can dedicate to our
initial business combination, could adversely affect our ability to operate.

Our
operations are dependent upon a relatively small group of individuals and, in particular, our executive officers and directors and the
members of our advisory board. We believe that our success depends on the continued service of our officers, directors and members of
our advisory board, at least until we have completed our initial business combination. In addition, our executive officers and directors
are not required to commit any specified amount of time to our affairs and, accordingly, will have conflicts of interest in allocating
their time among various business activities, including identifying potential business combinations and monitoring the related due diligence.
We do not have an employment agreement with, or key-man insurance on the life of, any of our directors or executive officers. The
unexpected loss of the services of one or more of our directors or executive officers could have a detrimental effect on us.

43

Our
executive officers and directors will allocate their time to other businesses thereby causing conflicts of interest in their determination
as to how much time to devote to our affairs. This conflict of interest could have a negative impact on our ability to complete our initial
business combination.

Our
executive officers and directors are not required to, and will not, commit their full time to our affairs, which may result in a conflict
of interest in allocating their time between our operations and our search for a business combination and their other businesses. We
do not intend to have any full-time employees prior to the completion of our initial business combination. If our executive officers’
and directors’ other business affairs require them to devote substantial amounts of time to such affairs in excess of their current
commitment levels, it could limit their ability to devote time to our affairs which may have a negative impact on our ability to complete
our initial business combination. Any such companies, businesses or investments may present additional conflicts of interest in pursuing
an initial business combination target. Notwithstanding the foregoing, such officers and directors will continue to have a pre-existing fiduciary
obligation to us and