Company: MLAC
Filing Date: 2025-12-30
Form Type: 425
Source: 0001213900-25-126602
Chunk: 4

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-12-30
Form: 425
Chunk 4
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 There’s a lot of firms that are just taking kind of an existing opco and they just do a pipe into it. And oftentimes that
company that’s pivoting from a failed strategy, whether it’s gaming or betting or it’s like a hemp manufacturer, there
are different medical failed companies. And so in my opinion, those are more problematic, right? They have historical problems you have
to address. They’re operating companies. They’re regulated. So you have to kind of continue to run these often failed businesses,
while the primary business is completely unrelated. And like to me, that was always kind of difficult. And so when the concept of a avalanche
digital asset treasury came along, people reached out to us because in the last round of avalanche raise money, we were one of the largest
participants in that race. So people knew that we were constructive on Avalanche. I was personally constructive. And then as kind of in
the early stage of thinking about what that might look like, I had some very strong opinions about what would lead to success and what
the next generation of these DATs are going to look like. And the more that I was thinking about it, the more I thought this might be
a unique opportunity to do something different. And there’s going to be a lot of these digital asset treasuries. And I think just
like in every other part of the capital markets, you’re going to have winners and losers. And if you built one that was purpose
built to do to provide exposure to the Avalanche ecosystem, but you could go beyond what you might be able to get by just owning the underlying
spot commodity or an ETF. I think there’s unique opportunities that this type of structure provides. And so the more I thought about
it, the more excited I got. And ultimately, I ended up here.

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Tony Edward: And there’s going to be the question that
folks have is, well, why not Bitcoin? Why not ETH? Why not Solana? Why AVAX or Avalanche?

Bart Smith: So I do think that one of the benefits of the regulatory
clarity that we’ve had and the excitement they have around it is that like finally institutions, governments, you know, are going
to be able to implement blockchain technology to make their businesses better. And so at its core, blockchain technology is software.
And so now if you say, okay, well, how are businesses going to implement