Company: MLAC
Filing Date: 2025-12-30
Form Type: 425
Source: 0001213900-25-126602
Chunk: 18

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-12-30
Form: 425
Chunk 18
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 for the SEC. I think tokenization is inevitable. And so having worked in traditional finance for the bulk of
my career, even today, it is insane to me how manual stock trading is. And so I think that there are certain parts about blockchain, moving
things on blockchains that requires a very specific set of skills and make sure you’re being very diligent at how you manage things
on chain. Cause in the traditional finance world, if you send Google to the wrong broker dealer, you’re getting that back. They
will reverse that back. And so the thing to me that is shocking is that how dated the infrastructure is in traditional equities globally
and just how much inefficiency there is there. And so I think just from a basic, just modernization of the underlying structure and plumbing
of traditional finance, like bond trading and equities, it’s like, it’s really just like this cobbled together kind of plumbing
that’s existed for over 100 years. And like you have this opportunity to like start clean and like start, you know, if you were
going to build the best way for people to exchange value, you know, over a blockchain, like I think that is a tremendous opportunity.
And Avalanche, the community has been focused on tokenization, you know, from the outset. That was kind of the core motivation of launching
of this chain. So yeah, I think that kind of antiquated plumbing mixed with like people want 24-7 everything. And so, you know, in many
cases, we are limited to the trading hours that we have in all of these different old money centers because of this plumbing. Right. And
so, you know, as people are going to demand a higher layer level of access and liquidity, it just seems inevitable that it goes to tokenization.

<div align='center'>9</div>

Tony Edward: Absolutely. You know, something I forgot to ask
you earlier, as far as the purchasing of these tokens and the custody of them, which institution or platform are you going to be using?

Bart Smith: So we’re going to be using a myriad of different
solutions. At this point, everything we’re using is a qualified custodian. In crypto, we don’t talk too much about custody.
So what I would say is we are expecting that the regulators in the U.S. are going to demand a very regulated solution. And so our strategy
has been to utilize that as such. So everything we