Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 34

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 34
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 set forth under the section entitled “Material U.S. Federal Income Tax Considerations of the Business Combination,” the SPAC Merger, the Greenland Merger and the March GL Merger are expected to be treated as an integrated transaction that is a tax-deferred transaction under Section 351 of the Code. If the Business Combination so qualifies, holders of SPAC Ordinary Shares would not recognize gain or loss for U.S. federal income tax purposes as a result of the exchange of SPAC Ordinary Shares solely for PubCo Common Stock. You are strongly urged to consult your tax advisor to determine the particular U.S. federal, state or local or foreign income or other tax consequences of the Business Combination (including the SPAC Merger) to you. Please see the section entitled “Material U.S. Federal Income Tax Considerations of the Business Combination.” |

| Q: | DID THE SPAC BOARD OBTAIN A THIRD-PARTY VALUATION OR FAIRNESS OPINION IN DETERMINING WHETHER OR NOT TO PROCEED WITH THE BUSINESS COMBINATION AS A WHOLE? |

| A: | Yes. The SPAC Board received a fairness opinion from EntrepreneurShares LLC, (“ERShares”), as to the fairness, from a financial point of view, to SPAC and SPAC’s stockholders, of the consideration to be paid by SPAC pursuant to the Business Combination Agreement. For additional information, please see the section titled “Proposal No. 1 — The Business Combination Proposal — Summary of Fairness Opinion.” |

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| Q: | ARE THERE MATERIAL DIFFERENCES BETWEEN MY RIGHTS AS A SPAC SHAREHOLDER AND A PUBCO SHAREHOLDER? |

| A: | Yes. There are certain material differences between your rights as a SPAC shareholder and your rights as a PubCo shareholder. Please read the sections entitled “Description of PubCo Securities” and “Comparison of Corporate Governance and Shareholder Rights.” |

| Q: | DO I HAVE REDEMPTION RIGHTS? |

| A: | If you are a holder of SPAC Public Shares, you have the right to demand that SPAC redeem such shares for a pro rata portion of the cash held in the Trust Account, which holds the proceeds of the IPO, as of two business days prior to the consummation of the Business Combination (including interest earned on the funds held in the Trust Account and not previously released to SPAC for permitted withdrawals or to pay its taxes) upon the Closing (such rights, “