Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 73

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1
Chunk 73
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 that is affiliated with our sponsor, officers or directors, we, or a committee
of independent directors, will obtain an opinion from an independent investment banking firm or another independent valuation or appraisal
firm that regularly provides fairness opinions that our initial business combination is fair to our company from a financial point of
view.

Members of our management team
and our independent directors directly or indirectly own founder shares and/or private units and, accordingly, may have a conflict of
interest in determining whether a particular target business is an appropriate business with which to effectuate our initial business
combination. The low price that our sponsor, executive officers and directors (directly or indirectly) paid for the founder shares creates
an incentive whereby our officers and directors could potentially make a substantial profit even if we select an acquisition target that
subsequently declines in value and is unprofitable for public shareholders. If we are unable to complete our initial business combination
within the completion window, the founder shares and private units may expire worthless, except to the extent they receive liquidating
distributions from assets outside the trust account, which could create an incentive for our sponsor, executive officers and directors
to complete a transaction even if we select an acquisition target that subsequently declines in value and is unprofitable for public shareholders.
Further, each of the members of our management team may have a conflict of interest with respect to evaluating a particular business combination
if the retention or resignation of any such person was included by a target business as a condition to any agreement with respect to our
initial business combination.

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, subject
to their fiduciary duties under Cayman Islands law.

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)