Company: PELI
Filing Date: 2025-10-23
Form Type: 425
Source: 0001829126-25-008346
Chunk: 0

Company: Pelican Acquisition Corp
Filing Date: 2025-10-23
Form: 425
Chunk 0
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Filed by Pelican Acquisition Corporation

pursuant to Rule 425 under the Securities Act of 1933

and deemed filed pursuant to Rule 14a-12

under the Securities Exchange Act of 1934

Subject Company: Pelican Acquisition Corporation

Commission File No. 001-42666

Date: October 22, 2025

As previously disclosed, on September 9, 2025, Pelican Acquisition Corporation, a Cayman Islands exempted company with limited liability (“PELI” or “SPAC”), entered into an Agreement and Plan of Merger (the “Merger Agreement”), by and among Pelican Holdco, Inc., a Texas corporation (“Holdco”), Pelican Merger Sub, Inc., a Texas corporation and wholly-owned subsidiary of Holdco (“Pelican Merger Sub”), Greenland Exploration Limited, a Texas Corporation (“Greenland”), Greenland Merger Sub, Inc., a Texas corporation and a wholly-owned subsidiary of Holdco (“Greenland Merger Sub”), March GL Company, a Texas corporation (“March GL”, and together with Greenland, each a “Company” and collectively, the “Companies”), and March GL Merger Sub, Inc., a Texas corporation and a wholly-owned subsidiary of Holdco. Upon the closing of the transaction, the combined company will operate under the name Greenland Energy Company and is expected to be listed on the NASDAQ Stock Market under the ticker symbol “GLND.”

On October 22, 2025, Robert Price, the CEO of March GL Company made the following communication on the below Fortune article.

Veteran oilman Robert Price was regaled with stories of dogsledding and adventures in Greenland as a child from his father who served as a military weatherman there during World War II.

Those stories kept the massive, icy North American territory in his mind until this year. After a series of still-pending deals, Price will soon become the CEO of Texas-based Greenland Energy, the first publicly traded company created to drill for oil onshore in Greenland, The first well is tentatively scheduled for next summer.

Pristine Greenland is potentially home to one of the world’s largest oilfield reserves. But it’s also the sparsely populated territory that U.S. President Trump wants to annex for strategic geopolitical and military purposes—very much against the wishes of Greenland and the Kingdom of Denmark that oversees the autonomous territory. Greenland, with its rapidly melting ice sheet, also is an example of global climate change largely caused by fossil fuels. And the project is taking