Pelican Acquisition Corp. Announces Arctic Logistics Agreement for Greenland Energy Drilling

Pelican Acquisition Corp. (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. This development represents a significant logistical milestone for accessing remote Arctic resources, where transportation challenges have historically hindered energy development.

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.” 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. March GL Company will be appointed as the Field Operations Manager. More information is available on its website www.MarchGL.com.

The logistics agreement with Desgagnés addresses one of the most challenging aspects of Arctic energy exploration: transporting heavy equipment and personnel to remote, ice-prone locations. The Jameson Land Basin represents a frontier exploration area where successful drilling could unlock substantial hydrocarbon resources. The partnership with an experienced maritime operator like Desgagnés, combined with approval from Royal Arctic Line, Greenland’s national shipping company, provides the necessary infrastructure to execute the drilling campaign. This collaboration demonstrates how specialized Arctic logistics capabilities are essential for advancing energy projects in environmentally sensitive and operationally demanding regions.

For investors, this announcement signals tangible progress toward the planned business combination that would create Greenland Energy Company. The logistics agreement removes a key operational hurdle, potentially de-risking the exploration timeline. The latest news and updates relating to PELI are available in the company’s newsroom at http://nnw.fm/PELI. The successful execution of this logistics plan could have broader implications for Arctic energy development, setting a precedent for how companies can overcome transportation barriers in remote regions. As global energy markets evolve, access to frontier resources like those in Greenland requires innovative partnerships and specialized capabilities, making this agreement a noteworthy development in the energy sector.