Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 489

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 489
---
 to the satisfaction or written waiver (where permissible) by the Companies and the Purchaser of the following conditions:

(a) Required Purchaser Approvals.
The Purchaser Shareholder Approval Matters that are submitted to the vote of the shareholders of Purchaser at the Purchaser Special Meeting
in accordance with the Proxy Statement shall have been approved by the requisite vote of the shareholders of Purchaser at the Purchaser
Special Meeting in accordance with the Purchaser’s Organizational Documents, applicable Law and the Proxy Statement (the “Required Purchaser Shareholder Approval”).

(b) Required Company Approvals.
The Required Company Shareholder Approval shall have been obtained and remain in full force and effect.

(c) No Adverse Law or Order.
No Governmental Authority shall have enacted, issued, promulgated, enforced or entered any Law (whether temporary, preliminary or permanent)
or Order that is then in effect and which has the effect of making the transactions or agreements contemplated by this Agreement illegal
or which otherwise prevents or prohibits consummation of the transactions contemplated by this Agreement.

<div align='center'>A-69</div>

(d) Reserved.

(e) Net Tangible Assets Test.Upon the Closing, after giving effect to the Redemption and the PIPE Investment, Holdco shall have net tangible assets of at
least $5,000,001.

(f) Registration Statement.The Registration Statement shall have been declared effective by the SEC and shall remain effective as of the Closing, and no stop
order or similar order shall be in effect with respect to the Registration Statement.

(g) Nasdaq Listing.
The shares of Holdco Common Stock to be issued in respect of the Mergers shall have been approved for listing on Nasdaq or any other stock
exchange agreed to between the Parties, subject to official notice of issuance.

(h) Holdco Organizational Document Amendment. The Parties shall cause the Organizational Document’s of Holdco to be amended to increase the number of
issuable shares of Holdco common stock to 500,000,000 shares.

9.2 Conditions to Obligations of the Companies.In addition to the conditions specified in Section 9.1,
the obligations of the Companies to consummate the Greenland Merger, the March GL Merger and the other transactions contemplated by this
Agreement are subject to the satisfaction or written waiver (by each Company) of the following conditions:

(a) Representations and Warranties. Each of the representations and warranties of Purchaser, each Merger Sub, the other Company and Holdco contained in