Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 419

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 419
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 Investment Company Act.As of the date of this Agreement, Purchaser is not an “investment company” or a Person directly or indirectly
“controlled” by or acting on behalf of an “investment company,” or required to register as an “investment
company,” in each case within the meaning of the Investment Company Act of 1940, as amended (the “Investment Company Act”).

3.16 Finders and Brokers.Except as set forth on Schedule 3.16, no broker, finder or investment banker is entitled to any brokerage, finder’s
or other fee or commission from Purchaser, the Company or any of their respective Affiliates in connection with the transactions contemplated
hereby based upon arrangements made by or on behalf of Purchaser.

3.17 Ownership of Merger Consideration.All shares of Holdco Common Stock to be issued and delivered to the Company Shareholders as Merger Consideration
in accordance with ARTICLE I shall be, upon issuance and delivery of such shares of Holdco Common Stock, fully paid and non-assessable,
free and clear of all Liens, other than restrictions arising from applicable securities Laws, any applicable Lock-Up Agreement, and any
Liens incurred by any Company Shareholder, and the issuance and sale of such shares of Holdco Common Stock pursuant hereto will not be
subject to or give rise to any preemptive rights or rights of first refusal.

3.18 Certain Business Practices.

(a) Neither Purchaser, nor
to the Knowledge of Purchaser, any of its Representatives acting on its behalf, has (i) used any funds for unlawful contributions, gifts,
entertainment or other unlawful expenses relating to political activity, (ii) made any unlawful payment to foreign or domestic government
officials or employees, to foreign or domestic political parties or campaigns or violated any provision of the U.S. Foreign Corrupt Practices
Act of 1977 or any other local or foreign anti-corruption or bribery Law, (iii) made any other unlawful payment, or (iv) since the incorporation
of Purchaser, directly or indirectly, given or agreed to give any unlawful gift or similar benefit in any material amount to any customer,
supplier, governmental employee or other Person who is or may be in a position to help or hinder the Purchaser or assist it in connection
with any actual or proposed transaction.

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(b) The operations of Purchaser
are and have been conducted at all times in compliance with money laundering statutes