Pelican Acquisition Shareholders Approve Greenland Energy Deal

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Pelican Acquisition Shareholders Approve Business Combination with Greenland Exploration and March GL

Houston, USA - Pelican Acquisition Corporation (NASDAQ: PELI) announced today the successful approval of its business combination with Pelican Holdco, Inc. ("PubCo"), Greenland Exploration Limited, and March GL Company. The shareholders of Pelican Acquisition Corporation unanimously approved the proposed transaction and all other presented proposals at an Extraordinary General Meeting held on March 19, 2026. The parties anticipate the business combination to be finalized on or about March 24, 2026.

This strategic combination aims to establish a new publicly traded energy company. The core mission of this new entity will be to enhance global energy security through the responsible development of Greenland's significant natural resources.

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About Greenland Energy Co

About Greenland Exploration Limited Greenland Exploration Limited is a Texas-based entity focused on developing strategic positions in North American energy assets. Through its partnerships and future acquisitions, Greenland aims to deliver long-term shareholder value in a dynamic and evolving energy market. About March GL Company 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 of the entire basin. March GL Company will be appointed as Field Operations Manager. More information is available on its website www.MarchGL.com.

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