Pelican Acquisition Corporation (PELI), through its subsidiary March GL Company, announced a strategic logistics agreement with Canadian maritime group Desgagnés to support drilling operations in Greenland’s Jameson Land Basin. The agreement, signed on February 23, 2026, provides Desgagnés’ ice‑class vessels, beach‑landing services, and port services at the Port of Valleyfield to mobilize equipment and crews for the project.
The deal is a key operational milestone for the pending merger that will create Greenland Energy Company, which is expected to be listed on Nasdaq under the ticker GLND. By securing Desgagnés’ specialized Arctic logistics capabilities, the combined entity will be able to launch its first onshore exploration program in Greenland in more than 50 years, a critical step toward realizing the basin’s significant oil potential.
Management highlighted that the partnership with Desgagnés and Royal Arctic Line will give the new company the necessary Arctic logistics capability to execute the 2026 drilling campaign. "We are moving from planning to action. Desgagnés brings the specific high‑latitude experience and marine assets necessary to safely transport our drilling infrastructure into the Jameson Land Basin. Working closely with Royal Arctic Line ensures alignment with Greenland's logistics framework and strengthens overall supply chain resilience," said Robert Price, CEO of March GL and incoming CEO of Greenland Energy Company.
The agreement also signals confidence from a reputable Arctic logistics provider and helps de‑risk the project operationally. "We are rapidly de‑risking this project – not just geologically, but operationally," added Larry Swets, CEO of Greenland Exploration Limited and future Executive Chairman.
The logistics agreement is part of a broader strategy that includes a Form S‑4 registration statement declared effective by the SEC on February 17, 2026, a scheduled shareholder vote on March 17, 2026, and an expected closing of the combination in the first quarter of 2026. The partnership positions the new company to unlock the Jameson Land Basin’s potential responsibly, delivering value for shareholders and contributing to energy diversification worldwide.
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