Pelican Acquisition Corp. Shareholders Approve Business Combination to Form New Greenland-Focused Energy Company
Pelican Acquisition Corp. announced that its shareholders have approved the proposed business combination with Pelican Holdco Inc., Greenland Exploration Limited, and March GL Company. The approval came during an extraordinary general meeting held on March 19, 2026, with the transaction expected to close on or about March 24, 2026. This combination is designed to establish a publicly traded energy company that will focus on advancing global energy security through the responsible development of Greenland’s natural resources.
The newly formed company will leverage the strategic positions of its component entities in North American energy assets. Greenland Exploration Limited, a Texas-based entity, aims to deliver long-term shareholder value in the evolving energy market through its partnerships. More information about Greenland Exploration Limited is available on their LinkedIn profile at https://www.linkedin.com/company/greenland-energy-company.
A key operational component of the combination is March GL Company, a privately-owned Texas Corporation that has entered into an agreement with 80 Mile for drilling operations at the Jameson oil and gas basin in Greenland. March GL will fund 100% of the costs associated with up to two exploration wells 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 and will be appointed as the Field Operations Manager. Additional details about March GL Company can be found on their website at http://www.MarchGL.com.
Pelican Acquisition Corporation, as a blank check company, was formed specifically for the purpose of effecting such business combinations without being limited to any particular industry or geographic region in identifying prospective targets. The latest news and updates relating to Pelican Acquisition Corp. are available in the company’s newsroom at http://nnw.fm/PELI.
This business combination represents a significant development in the energy sector, particularly as global markets seek diversified and secure energy sources. The focus on Greenland’s resources comes at a time when energy security has become increasingly important worldwide. The transaction structure allows March GL Company to assume substantial operational responsibility while providing funding for critical exploration activities that could unlock new energy reserves. The shareholder approval indicates confidence in the strategic direction of combining these entities to create a focused energy development company with specific operational capabilities and resource access.
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