Pelican Acquisition Secures Arctic Logistics Agreement for Greenland Energy Drilling Operations

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. This logistics arrangement represents a critical infrastructure component for energy development in the challenging Arctic environment, where transportation and supply chain management present significant operational hurdles.

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 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.

The logistics agreement with Desgagnés enables the transportation of heavy equipment, drilling materials, and personnel to remote Arctic locations that lack established port infrastructure. This capability is essential for conducting exploration activities in Greenland's frontier basins, where previous energy development has been limited by logistical constraints. The specialized ice-class vessels can navigate through Arctic sea ice conditions that would impede conventional shipping, while the beach-landing capabilities allow for direct delivery of cargo to shore locations without deep-water port facilities.

This development matters because it represents a tangible step toward unlocking Greenland's energy potential at a time when global energy markets are seeking new sources of supply. The Jameson Land Basin has been identified as having significant hydrocarbon potential, but previous exploration efforts have been hampered by the extreme logistical challenges of operating in the Arctic. The successful implementation of this logistics framework could establish a model for future energy development in Greenland and other Arctic regions, potentially opening new frontiers for resource extraction. The agreement also demonstrates the growing commercial interest in Greenland's energy resources and the increasing viability of Arctic operations as climate change alters accessibility to previously ice-locked regions.

The strategic importance extends beyond immediate exploration activities, as establishing reliable logistics chains in the Arctic could facilitate broader economic development in Greenland. The partnership with Canadian maritime expertise through Desgagnés brings proven Arctic operational experience to the project, reducing technical risks associated with the challenging environment. For more information about the companies involved, visit http://IBN.fm/Disclaimer. The forward-looking statements in the announcement highlight both the potential opportunities and significant uncertainties associated with Arctic energy development, including environmental factors, regulatory considerations, and market conditions that could impact the ultimate success of the drilling campaign.