Company: MLAC
Filing Date: 2025-10-07
Form Type: 425
Source: 0001213900-25-097100
Chunk: 7

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-10-07
Form: 425
Chunk 7
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 by SPAC with their applicable pre-closing covenants, (iii) no occurrence
of a Material Adverse Effect with respect to SPAC since the date of the Business Combination Agreement which is continuing and uncured,
and (iv) the Sponsor having performed in all material respects its obligations required under the Sponsor Support Agreement (as defined
below).

<div align='center'>3</div>

Termination

The Business Combination Agreement
contains certain termination rights, including, among others and subject to certain conditions and limitations, the following: (i) upon
the mutual written consent of SPAC and the Seller, (ii) by either SPAC or the Seller, if the conditions to closing set forth therein have
not occurred or been waived by the one-year anniversary of the Business Combination Agreement (the “Outside Date”),
(iii) by either SPAC or the Seller if a governmental authority issues a final, non-appealable order permanently enjoining or prohibiting
the Transactions, (iv) by either SPAC or the Seller, as a result of material breach by or non-performance of the other party and such
breach or non-performance gives rise to a failure of a condition precedent and cannot or has not been cured within the earlier of (a)
20 days after written notice of such breach is provided to SPAC by the Seller and (b) five business days prior to the Outside Date, (v)
by the Seller if, prior to SPAC obtaining the SPAC Shareholder Approval, the SPAC board has made a change in its recommendation; and (vi)
by SPAC or the Seller, if the Extraordinary General Meeting is held and has concluded, SPAC shareholders have duly voted, and the SPAC
Shareholder Approval was not obtained.

None of the parties to the
Business Combination Agreement is required to pay a termination fee or reimburse any other party for its expenses as a result of a termination
of the Business Combination Agreement. However, each party will remain liable for willful breaches of the Business Combination Agreement
or for fraud claims prior to termination. Notwithstanding the foregoing, Pubco will also bear all fees, costs and expenses incurred by
any party or any of its affiliates in connection with the filing of the Registration Statement with the SEC and submitting a listing application
for Pubco Class A Stock to Nasdaq.

Trust Account Waiver

The Company, Pubco, Pubco
Subsidiaries and the Seller agreed that it and its affiliates will not have any right, title, interest