Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 164

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1
Chunk 164
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as the Internal Revenue Service (“IRS”) may require, including a PFIC annual information statement, in order to enable the
U.S. Holder to make and maintain a “qualified electing fund” election, but there can be no assurance that we will timely
provide such required information, and such election would likely be unavailable with respect to our rights. We urge U.S. investors
to consult their own tax advisors regarding the possible application of the PFIC rules.

For
purposes of this Risk Factor, a “U.S. Holder” is a beneficial holder of securities who or that, for U.S. federal income tax
purposes is (i) an individual who is a United States citizen or resident of the United States; (ii) a corporation or other entity treated
as a corporation for United States federal income tax purposes created in, or organized under the law of, the United States or any state
or political subdivision thereof; (iii) an estate the income of which is includible in gross income for United States federal income
tax purposes regardless of its source; or (iv) a trust (A) the administration of which is subject to the primary supervision of a United
States court and which has one or more United States persons (within the meaning of the Code) who have the authority to control all substantial
decisions of the trust or (B) that has in effect a valid election under applicable Treasury regulations to be treated as a United States
person.

52

We
may reincorporate in or transfer by way of continuation to another jurisdiction which may result in taxes imposed on shareholders or
right holders.

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