Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 74

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1
Chunk 74
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 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.

7

In addition, certain of our
officers and directors are members of our sponsor and own membership interests of our sponsor. The remaining membership interests are
held by third party investors that are not affiliated with members of our management. 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 business combination.

In addition, our sponsor and
our officers and directors or any of their affiliates may sponsor or form other special purpose acquisition companies similar to ours
or may pursue other business or investment ventures during the period in which we are seeking an initial business combination. Any such
companies, businesses or investments may present additional conflicts of interest in pursuing an initial business combination. Notwithstanding
the foregoing, 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 acquisition companies they subsequently join. In addition, because we may consummate a business combination
with a target in a broad array of industries, we do not believe that any such potential conflicts would materially affect our ability
to complete our initial business combination.

We have filed a Registration
Statement on Form 8-A with the SEC to voluntarily register our securities under Section 12