Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 478

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1C
Chunk 478
---
 used in investing activities 
     (231,150,000)

    Cash Flows from Financing Activities: 

    Proceeds from sale of Units, net of underwriting discounts paid 
     225,400,000 
  
    Proceeds from sale of Private Placement Units 
     8,050,000 
  
    Repayment of promissory note - related party 
     (249,828)
  
    Payment of offering costs 
     (506,933)
  
    Net cash provided by financing activities 
     232,693,239 

    Net Change in Cash 
     1,383,392 
  
    Cash - Beginning of period 
     — 
  
    Cash - End of period 
    $1,383,392 

    Non-Cash Investing and Financing Activities: 

    Offering costs included in accrued offering costs 
    $6,750 
  
    Prepaid services paid by Sponsor in exchange for issuance of Class B ordinary shares 
    $25,000 
  
    Offering costs paid through promissory note – related party 
    $174,111 
  
    Prepaid services contributed by Sponsor through promissory note - related party 
    $5,229 
  
    Offering costs paid through prepaid expenses 
    $16,467 
  
    Deferred underwriting fee payable 
    $8,050,000 
  
    Forfeiture of Founder Shares 
    $36 

The accompanying notes are an integral part
of these financial statements.

F-6

MOUNTAIN
LAKE ACQUISITION CORP.

NOTES
TO FINANCIAL STATEMENTS

DECEMBER
31, 2024

NOTE 1 — DESCRIPTION OF ORGANIZATION AND
BUSINESS OPERATIONS

Mountain Lake Acquisition Corp. (the “Company”)
is a blank check company incorporated as a Cayman Islands exempted company on June 14, 2024. The Company was incorporated for the
purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with
one or more businesses that the Company has not yet identified (“Business Combination”). The Company may pursue an acquisition
opportunity in any industry or geographic location.

As of December 31, 2024, the Company has not commenced
any operations. All activity for the period from June 14, 2024 (inception) through December 31, 2024,