Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 217

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 217
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 of SPAC Ordinary Shares or PubCo Common Stock. In its preamble to such proposed Treasury Regulations, the IRS stated that taxpayers may generally rely on the proposed Treasury Regulations until final Treasury Regulations are issued.

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Non-U.S. holders should consult their tax advisers regarding the effects of FATCA on dividends paid or deemed paid on SPAC Ordinary Shares or PubCo Common Stock.

THE U.S. FEDERAL INCOME TAX DISCUSSION SET FORTH ABOVE IS INCLUDED FOR GENERAL INFORMATION ONLY AND MAY NOT BE APPLICABLE DEPENDING UPON A HOLDER’S PARTICULAR SITUATION. HOLDERS ARE URGED TO CONSULT THEIR OWN TAX ADVISORS WITH RESPECT TO THE TAX CONSEQUENCES TO THEM OF THE CONVERSION, THE EXERCISE OF REDEMPTION RIGHTS, THE BUSINESS COMBINATION, AND THE OWNERSHIP AND DISPOSITION OF PUBCO COMMON STOCK, INCLUDING THE TAX CONSEQUENCES UNDER STATE, LOCAL, ESTATE, FOREIGN AND OTHER TAX LAWS AND TAX TREATIES AND THE POSSIBLE EFFECTS OF CHANGES IN U.S. OR OTHER TAX LAWS.

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<div align='center'>UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL STATEMENTS</div>

Introduction

The following unaudited pro forma condensed combined financial information has been prepared in accordance with Article 11 of Regulation S-X and presents the combination of the historical financial information of SPAC, Greenland, and March GL, adjusted to give effect to the Business Combination.

The unaudited pro forma
condensed combined balance sheet as of June 30, 2025, combines the historical unaudited condensed balance sheet of SPAC as of
July 31, 2025, with the historical unaudited consolidated balance sheets of Greenland and March GL as of June 30, 2025, on
a pro forma basis as if the Business Combination had been consummated as of that date.

The unaudited pro forma combined statement of profit or loss for the six months ended June 30, 2025 combines the historical unaudited statement of profit or loss of SPAC for the six months ended July 31, 2025, the historical unaudited consolidated statement of profit or loss of Greenland for the six months ended June 30, 2025, and the historical unaudited consolidated statement of profit or loss of March GL for the six months ended June 30, 2025