Greenland Energy Company Begins Trading on NASDAQ Following Business Combination

Pelican Acquisition Corp. (NASDAQ: PELI) has announced the successful completion of its business combination with Pelican Holdco Inc., Greenland Exploration Limited and March GL Company, forming Greenland Energy Company which will begin trading on The Nasdaq Stock Market under the ticker (NASDAQ: GLND) on March 26, 2026. The combined 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 and independent estimates suggest up to 13 billion barrels of recoverable oil. This development represents a significant opportunity in the evolving energy market as global demand continues to shift toward new resource discoveries.

The Jameson Land Basin project is preparing for initial drilling 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. 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 this arrangement is available on its website https://www.MarchGL.com.

Greenland Exploration Limited is a Texas-based entity focused on developing strategic positions in North American energy assets. Through its partnerships, Greenland aims to deliver long-term shareholder value in a dynamic and evolving energy market. The business combination creates a publicly-traded entity positioned to capitalize on the significant resource potential identified in Greenland while providing investors with exposure to this emerging energy opportunity. The transition to public trading status through this business combination provides the capital structure necessary to advance the ambitious development plans for the Jameson Land Basin.

The latest news and updates relating to the company are available in the newsroom at http://ibn.fm/PELI. The full press release detailing the business combination can be viewed at https://ibn.fm/GhN28. This development comes at a time when global energy markets are seeking new sources of supply, and the substantial resource estimates for Greenland's Jameson Land Basin position the newly formed Greenland Energy Company as a potentially significant player in the international energy sector. The successful completion of this business combination and subsequent NASDAQ listing represents a milestone in bringing Greenland's energy resources to market through established corporate and financial structures.