Pelican Acquisition Corp merges with Greenland firms in $215M deal to form Greenland Energy Company

Pelican Acquisition Corp

Implied valuation of $215M based on 21.5M shares of Holdco common stock at $10.00 per share.
Closing expected Q4 2025; combined company to trade on Nasdaq under ticker GLND.
March GL has rights to own up to 70% of three onshore Greenland licenses covering over 2,000,000 acres.
March GL signed agreements with Halliburton for drilling services and plans first well in Jameson Land Basin.
Greenland government approved mobilization of heavy equipment for drilling site preparation.

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