Company: PELI
Filing Date: 2025-10-24
Form Type: 425
Source: 0001829126-25-008407
Chunk: 1

Company: Pelican Acquisition Corp
Filing Date: 2025-10-24
Form: 425
Chunk 1
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 PELIR             |     | The Nasdaq Stock Market LLC          |

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Explanatory Note

As previously disclosed, on September 9,
2025, Pelican Acquisition Corporation, a Cayman Islands exempted company with limited liability (“Pelican”), entered into
an Agreement and Plan of Merger (the “Merger Agreement”), by and among Pelican Holdco, Inc., a Texas corporation (“PubCo”),
Pelican Merger Sub, Inc., a Texas corporation and wholly-owned subsidiary of PubCo, Greenland Exploration Limited, a Texas Corporation
(“Greenland”), Greenland Merger Sub, Inc., a Texas corporation and a wholly-owned subsidiary of PubCo, March GL Company, a
Texas corporation (“March GL”), and March GL Merger Sub, Inc., a Texas corporation and a wholly-owned subsidiary of PubCo.
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.”

| Item 7.01 | Regulation FD Disclosure |

On October 22, 2025, Fortune published an article
titled “A Texas company plans to drill for oil in Greenland despite a climate change ban and Trump’s desire to annex the territory”
which referenced several figures from a reserve report by Sproule ERC. The reserve report of Sproule ERCE (the “Reserve Report”)
related to the evaluation of the prospective resources of March GL’s Greenland license as of September 1, 2025. The Reserve Report is filed
herewith as Exhibit 99.1 and is incorporated by reference herein.

Cautionary Statements to Investors on Reserves and Resources

In accordance with General Instruction B.2
of Form 8-K, the information in Item 7.01 is being furnished and shall not be deemed to be “filed” for purposes
of Section