Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 148

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1
Chunk 148
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 materially affect our ability to complete
our business combination. 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) we renounce any interest or expectancy in, or in being offered an opportunity to participate in, any potential transaction
or matter which may be a corporate opportunity for any director or officer, on the one hand, and us, on the other. The purpose for the
surrender of corporate opportunities is to allow officers, directors or other representatives with multiple business affiliations to
continue to serve as an officer of our company or on our board of directors. Our officers and directors may from time to time be presented
with opportunities that could benefit both another business affiliation and us. In the absence of the “corporate opportunity”
waiver in our charter, certain candidates would not be able to serve as an officer or director. We believe we substantially benefit from
having representatives who bring significant, relevant and valuable experience to our management, and, as a result, the inclusion of
the “corporate opportunity” waiver in our amended and restated memorandum and articles of association provides us with greater
flexibility to attract and retain the officers and directors that we feel are the best candidates. We do not believe, however, that the
fiduciary duties or contractual obligations of our officers or directors will materially affect our ability to complete our initial business.

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In
addition, our sponsor and our officers and directors may sponsor or form other special purpose acquisition companies with acquisition
objectives that are similar to ours or may pursue other business or investment ventures during the period in which we are seeking an
initial business combination. As a result, our sponsor, officers and directors could have conflicts of interest in determining whether
to present business combination to us or to any other special purpose acquisition company with which they may become involved. Any such
companies, businesses or investments may present additional conflicts of interest in pursuing an initial business combination target.
Our officers and directors may become officers or directors of other special purpose acquisition companies. Notwithstanding that, such
officers and directors will continue to have a pre-existing fiduciary obligation to us and we will, therefore, have priority over
any special purpose