Pelican Acquisition Corporation (NASDAQ: PELI) Announces Definitive Merger Agreement with Greenland Exploration Limited and March GL Company, with the combined company to be named Greenland Energy Company
1. Pelican Acquisition signs merger with Greenland Exploration and March GL. 2. Transaction implies $215 million valuation with 70% ownership potential. 3. New company will focus on Jameson Land Basin oil extraction. 4. Merger expected to close in Q4, leading to new NASDAQ listing. 5. Plans involve significant infrastructure development in Greenland.