Greenland Energy Company Begins Trading on Nasdaq Following Business Combination Completion

Pelican Acquisition Corp. has completed its business combination with Pelican Holdco Inc., Greenland Exploration Limited and March GL Company, forming Greenland Energy Company. The combined company will begin trading on The Nasdaq Stock Market under the ticker GLND on March 26, 2026. This transition marks a significant step for the company’s development of energy resources in Greenland.

The company is advancing development of the Jameson Land Basin in East Greenland, where reprocessed seismic data has identified more than 50 oil and gas targets. Independent estimates suggest the basin contains up to 13 billion barrels of recoverable oil, representing substantial energy potential in a region that has attracted increasing attention from energy developers. The company is preparing for initial drilling operations supported by established infrastructure, logistics partnerships and key service providers.

March GL Company, a privately-owned Texas Corporation, entered into an agreement with 80 Mile for drilling to commence at the Jameson oil and gas basin in Greenland. According to the announcement, March GL will fund 100% of the costs associated with up to two exploration wells, which are designed to delineate the sedimentary structure and energy potential of the Jameson Land Basin. In return, March GL will earn through 80 Mile’s subsidiary company up to 70% interest in the entire basin, with March GL Company appointed as the Field Operations Manager. More information about March GL Company is available on its website at https://www.MarchGL.com.

The business combination represents a strategic move to access public markets for capital to develop Greenland’s energy resources. Greenland Exploration Limited, a Texas-based entity focused on developing strategic positions in North American energy assets, aims through its partnerships to deliver long-term shareholder value in a dynamic and evolving energy market. The company maintains a presence on professional networking platforms including https://www.linkedin.com/company/greenland-energy-company.

Pelican Acquisition Corporation was a blank check 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. The company was not limited to any particular industry or geographic region in identifying prospective targets. The latest news and updates relating to the former PELI ticker are available in the company’s newsroom at http://ibn.fm/PELI.

The development comes as global energy markets continue to evolve and companies seek new sources of hydrocarbons. The substantial estimated resources in Greenland’s Jameson Land Basin could potentially contribute to global energy supplies, though development in Arctic regions presents unique environmental and logistical challenges. The company’s transition to public trading provides investors with access to this developing energy play through conventional market channels.

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