Company: MLAC
Filing Date: 2025-11-21
Form Type: 425
Source: 0001213900-25-113276
Chunk: 5

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-11-21
Form: 425
Chunk 5
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 whether or not to pursue the
Business Combination; the failure of Pubco to obtain or maintain the listing of its securities any stock exchange on which Pubco Class
A Stock will be listed after closing of the Business Combination; costs related to the Proposed Transactions and as a result of becoming
a public company; changes in business, market, financial, political and regulatory conditions; risks relating to Pubco’s anticipated
operations and business, including the highly volatile nature of the price of AVAX; the risk that Pubco’s stock price will be highly
correlated to the price of AVAX and the price of AVAX may decrease at any time after the closing of the Proposed Transactions; risks related
to increased competition in the industries in which Pubco will operate; risks relating to significant legal, commercial, regulatory and
technical uncertainty regarding AVAX; risks relating to the treatment of crypto assets for U.S. and foreign tax purposes; risks that after
consummation of the Business Combination, Pubco experiences difficulties managing its growth and expanding operations; challenges in implementing
Pubco’s business plan, including AVAX-related advisory services and other AVAX-related services, due to operational challenges,
significant competition and regulation; being considered to be a “shell company” by any stock exchange on which Pubco Class
A Stock will be listed or by the SEC, which may impact the ability to list Pubco Class A Stock and restrict reliance on certain rules
or forms in connection with the offering, sale or resale of securities; the outcome of any potential legal proceedings that may be instituted
against Newco, Mountain Lake, Pubco or others following announcement of the Business Combination; and those risk factors discussed in
documents of Pubco, Newco, or Mountain Lake filed, or to be filed, with the SEC.

The foregoing list of risk factors is not exhaustive.
You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors”
section of the final prospectus of Mountain Lake dated as of December 12, 2024 and filed by Mountain Lake with the SEC on December 13,
2024, Mountain Lake’s Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q on file, and to be filed, with the SEC and
the Proxy Statement/Prospectus that will be filed by Pubco and Newco, and other documents filed by Mountain Lake and Pubco from time to
time with the SEC. These filings do or will identify and address other important risks and uncertainties that