- Pelican Acquisition Corp. is pursuing a business combination with Greenland Exploration Limited and March GL Company that is expected to close on March 17, 2026, and create a publicly traded energy company named Greenland Energy Company.
- The proposed company is focused on exploration and development in Greenland’s Jameson Land Basin, where March GL may earn up to a 70% interest in more than 2 million acres of onshore licenses.
- Historic exploration conducted by Atlantic Richfield collected approximately 1,800 kilometers of seismic data that has since been reprocessed using modern imaging technology.
- Early geological models suggest the basin could contain more than 13 billion barrels of recoverable oil if exploration results confirm the resource potential.
- The Arctic region is estimated by the U.S. Geological Survey to contain approximately 13% of the world’s undiscovered conventional oil resources and 30% of its undiscovered conventional natural gas resources.
Pelican Acquisition (NASDAQ: PELI) is a publicly traded special purpose acquisition company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.
Pelican has entered into a proposed business combination with Greenland Exploration Limited and March GL Company that is expected to close on March 17, 2026, and result in the creation of Greenland Energy Company, a publicly traded entity focused on the development of energy resources in Greenland’s…
NOTE TO INVESTORS: The latest news and updates relating to PELI are available in the company’s newsroom at https://ibn.fm/PELI
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