# Pelican Acquisition Corp (PELIU) — merger/spac_merger [completed] Source: SEC API (secapi.ai) · situation sit_33724a7e7a3b556d1f1c · retrieved 2026-08-11T16:15:44.721Z ## Overview Greenland Energy Company (formed through the merger) is an oil exploration company targeting the Jameson Land basin on Greenland's east coast, one of the last unexplored petroleum systems in the Arctic, with plans to drill exploration wells to test for recoverable oil reserves estimated at over 13 billion barrels. Pelican Acquisition Corporation announced a business combination with Greenland Exploration Limited and March GL, with the combined entity to operate as Greenland Energy Company and trade on Nasdaq under ticker GLND. The Form S-4 registration statement was declared effective on February 17, 2026. According to an article published March 9, 2026, the transaction is expected to close on March 17, 2026. The combined company will be led by veteran oil executive Robert Price, founder of March GL, and plans to pursue oil exploration in Greenland's Jameson Land basin, with initial drilling campaigns estimated at approximately $40 million for the first well and $20 million for a second follow-up well. ## Terms - Counterparty: Greenland Exploration Limited and March GL · Stake: 70% ## Key dates - Announced 2026-01-12 · Record 2026-02-19 · Vote 2026-03-17 · Expected close 2026-03-17 · Completed 2026-03-25 ## Timeline - 2026-01-12 · 425 (0001829126-26-000192): 425 - Pelican Acquisition Corp — *Pelican Acquisition Corp is a blank-check company incorporated in the Cayman Islands.* Pelican Acquisition Corporation is pursuing a business combination with Greenland Exploration Limited, March GL, and Pelican Holdco, Inc. ("PubCo"), which will be the go-forward public company (Greenland Energy Company) following completion of the transaction. Pelican filed a Form S-4 registration statement with the SEC containing a preliminary proxy statement/prospectus. After the Registration Statement is declared effective, Pelican will mail the definitive proxy statement/prospectus to shareholders for voting on the Business Combination at a Pelican Shareholder Meeting. https://www.sec.gov/Archives/edgar/data/2037431/0001829126-26-000192.txt - 2026-01-13 · 425 (0001829126-26-000257): 425 - Pelican Acquisition Corp — *March GL is an oil exploration company pursuing frontier oil development in Greenland's Jameson Land basin, planning to drill exploratory wells targeting an estimated 13 billion barrels of recoverable oil in one of the world's largest undeveloped hydrocarbon reserves.* March GL, an oil exploration company focused on Greenland's Jameson Land basin, is combining with blank-check company Pelican Acquisition Corporation in a business combination that will result in the merged entity listing publicly as Greenland Energy Company ("PubCo") in the first quarter of 2026. The transaction involves March GL, Pelican Acquisition Corporation, Greenland Exploration Limited, and Pelican Holdco, Inc. March GL plans to drill two exploratory wells in Jameson Land at an estimated cost of $40 million for the first well and approximately $20 million for the second well, with operations targeting 2026. The company holds a 70% stake in three onshore oil and gas exploration licenses on Jameson Land through an arrangement with 80 Mile, and projects the basin contains 13 billion or more barrels of commercially recoverable oil. https://www.sec.gov/Archives/edgar/data/2037431/0001829126-26-000257.txt - 2026-02-23 · 425 (0001829126-26-001554): 425 - Pelican Acquisition Corp — *Pelican Acquisition Corporation is a blank check company formed to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.* Pelican Acquisition Corporation is combining with Greenland Exploration Limited and March GL Company in a business combination that will result in a publicly traded energy company focused on Greenland's natural resources development. The transaction's Form S-4 registration statement was declared effective on February 17, 2026. Upon closing, the resulting company—Greenland Energy Company—is expected to list on Nasdaq under the ticker symbol "GLND." The definitive proxy statement/prospectus will be mailed to Pelican shareholders at record dates to be established for voting on the business combination. https://www.sec.gov/Archives/edgar/data/2037431/0001829126-26-001554.txt - 2026-02-24 · 425 (0001829126-26-001596): 425 - Pelican Acquisition Corp — *Pelican Acquisition Corporation is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.* Pelican Acquisition Corporation announced that its Form S-4 registration statement was declared effective by the SEC on February 17, 2026, in connection with the proposed business combination among Pelican, Greenland Exploration Limited, March GL Company, and Pelican Holdco, Inc. (the go-forward entity to be named Greenland Energy Company). The combined company is expected to list on Nasdaq under ticker symbol "GLND" upon closing. Pelican will hold an extraordinary general meeting of shareholders on March 17, 2026, at 10:00 a.m. Eastern Time to approve the business combination and related proposals. The business combination is expected to close in the first quarter of 2026, subject to shareholder approval and satisfaction of other customary closing conditions. https://www.sec.gov/Archives/edgar/data/2037431/0001829126-26-001596.txt - 2026-03-04 · 425 (0001829126-26-001894): 425 - Pelican Acquisition Corp — *Pelican Acquisition Corporation is a Cayman Islands exempted company formed as a blank-check SPAC for the purpose of effecting a business combination.* Pelican Acquisition Corporation (a Cayman Islands SPAC) is pursuing a business combination with Pelican Holdco, Inc. (to be renamed "Greenland Energy Company"), Greenland Exploration Limited, and March GL Company. The transaction involves the issuance of up to 35,172,375 shares of common stock and 1,500,000 warrants to purchase shares of common stock of PubCo. An extraordinary general meeting of Pelican shareholders is scheduled for March 17, 2026 to approve the business combination. On March 3, 2026, a prospectus supplement was filed clarifying that PubCo's warrants will not be listed or traded on Nasdaq or any other listing exchange. https://www.sec.gov/Archives/edgar/data/2037431/0001829126-26-001894.txt - 2026-03-09 · 425 (0001829126-26-002093): 425 - Pelican Acquisition Corp — *Pelican Acquisition Corp is a blank-check company incorporated in the Cayman Islands seeking to complete a business combination with oil and gas exploration and energy companies.* Pelican Acquisition Corporation is pursuing a business combination with Greenland Exploration Limited, March GL Company, and Pelican Holdco, Inc. (to be renamed Greenland Energy Company). A Form S-4 registration statement was declared effective on February 17, 2026. Pelican will mail a definitive proxy statement/prospectus to shareholders for voting on the business combination, with record dates to be established. Robert Price, CEO of March GL, will become CEO of the resulting public company (PubCo). https://www.sec.gov/Archives/edgar/data/2037431/0001829126-26-002093.txt - 2026-03-09 · 425 (0001829126-26-002117): 425 - Pelican Acquisition Corp — *Greenland Energy Company (formed through the merger) is an oil exploration company targeting the Jameson Land basin on Greenland's east coast, one of the last unexplored petroleum systems in the Arctic, with plans to drill exploration wells to test for recoverable oil reserves estimated at over 13 billion barrels.* Pelican Acquisition Corporation announced a business combination with Greenland Exploration Limited and March GL, with the combined entity to operate as Greenland Energy Company and trade on Nasdaq under ticker GLND. The Form S-4 registration statement was declared effective on February 17, 2026. According to an article published March 9, 2026, the transaction is expected to close on March 17, 2026. The combined company will be led by veteran oil executive Robert Price, founder of March GL, and plans to pursue oil exploration in Greenland's Jameson Land basin, with initial drilling campaigns estimated at approximately $40 million for the first well and $20 million for a second follow-up well. https://www.sec.gov/Archives/edgar/data/2037431/0001829126-26-002117.txt - 2026-03-25 · 25-NSE (0001354457-26-000298): 25-NSE https://www.sec.gov/Archives/edgar/data/2037431/000135445726000298/xslF25X02/primary_doc.xml ## Citations - 0001829126-26-000192 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000182912626000192 - 0001829126-26-000257 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000182912626000257 - 0001829126-26-001554 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000182912626001554 - 0001829126-26-001596 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000182912626001596 - 0001829126-26-001894 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000182912626001894 - 0001829126-26-002093 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000182912626002093 - 0001829126-26-002117 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000182912626002117 - 0001354457-26-000298 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000135445726000298