Pelican Acquisition Corporation - Ordinary Shares (PELI)

Pelican Acquisition (NASDAQ: PELI) announced that the leadership team behind the formation of Greenland Energy Company has entered into a strategic logistics agreement with Canadian maritime group Desgagnés to support cargo transportation for planned drilling operations in Greenland’s Jameson Land Basin. The agreement, coordinated with and approved by Royal Arctic Line, provides specialized ice-class vessels and Arctic beach-landing capabilities required to mobilize equipment and crews for the upcoming exploration campaign. The arrangement was executed by March GL Company, which along with Greenland Exploration Ltd. is set to merge with Pelican; upon completion of the business combination, the combined entity is expected to operate as Greenland Energy Company and list on Nasdaq under the ticker symbol “GLND.”

Pelican Acquisition (NASDAQ: PELI) is moving forward with a merger that will create Greenland Energy Company, which plans to drill the first modern exploration wells in Greenland’s remote Jameson Land basin — a frontier petroleum system that some geologists believe could contain more than 13 billion barrels of recoverable oil. According to a report by OilPrice.com’s Tom Kool, the project brings together Texas-based explorer March GL, Greenland Exploration Ltd. and Pelican Acquisition Corp., with veteran oil executive Robert Price expected to lead the combined company once the transaction closes March 17 and the entity begins trading under the ticker GLND.