# EDGAR Filing Document

**Accession Number:** 0002037431
**File Stem:** 0001829126-26-002400
**Filing Date:** 2026-3
**Character Count:** 22350
**Document Hash:** 2c526bcd3fc96d82e80f0a276e59ae53
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001829126-26-002400.hdr.sgml**: 20260317

**ACCESSION NUMBER**: 0001829126-26-002400

**CONFORMED SUBMISSION TYPE**: 425

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20260317

**DATE AS OF CHANGE**: 20260317

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Pelican Acquisition Corp
- **CENTRAL INDEX KEY:** 0002037431
- **STANDARD INDUSTRIAL CLASSIFICATION:** BLANK CHECKS [6770]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 0131

**FILING VALUES:**
- **FORM TYPE:** 425
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-42666
- **FILM NUMBER:** 26762516

**BUSINESS ADDRESS:**
- **STREET 1:** 1185 AVENUE OF THE AMERICAS, SUITE 301
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036
- **BUSINESS PHONE:** 212-612-1400

**MAIL ADDRESS:**
- **STREET 1:** 1185 AVENUE OF THE AMERICAS, SUITE 301
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Pelican Acquisition Corp
- **CENTRAL INDEX KEY:** 0002037431
- **STANDARD INDUSTRIAL CLASSIFICATION:** BLANK CHECKS [6770]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 0131

**FILING VALUES:**
- **FORM TYPE:** 425

**BUSINESS ADDRESS:**
- **STREET 1:** 1185 AVENUE OF THE AMERICAS, SUITE 301
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036
- **BUSINESS PHONE:** 212-612-1400

**MAIL ADDRESS:**
- **STREET 1:** 1185 AVENUE OF THE AMERICAS, SUITE 301
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): March 17, 2026

**<u>Pelican Acquisition Corporation</u>**

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Cayman Islands** | **001-42666** | **N/A** |
| (State or other jurisdiction <br>of incorporation) | (Commission<br>File Number) | (IRS Employer <br>Identification No.) |

---

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| | |
|:---|:---|
| **1185 Avenue of the Americas, Suite 349**<br> **New York, NY** | **10036** |
| (Address of principal executive offices) | (Zip Code) |

---

Registrant's telephone number, including area code: **(212) 612-1400**

**<u>Not Applicable</u>**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation to the registrant under any of the following provisions:

☒ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of exchange on which registered** |
| Units, each consisting of one ordinary share and one right | PELIU | The Nasdaq Stock Market LLC |
| Ordinary shares, par value $0.0001 per share | PELI | The Nasdaq Stock Market LLC |
| Rights, each right entitling the holder to receive one-tenth of one ordinary share | 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. ☐

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| | |
|:---|:---|
| **Item 7.01** | **Regulation FD Disclosure** |

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On March 17, 2026, Robert Price, the Chief Executive Officer ("CEO") of Greenland Energy Company, and Larry G. Swets, Jr., an incoming director of Greenland Energy Company, participated in an interview titled "$Peli: Pelican Acquisition Corp & Greenland Energy Company" hosted by laptoptravel. The interview discussed the Business Combination (defined below). A video of the interview is available at https://streamyard.com/7hzjrhursr9e. A copy of the transcript of the interview is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference into this Item 7.01.

The information in this Item 7.01 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act, except as expressly set forth by specific reference in such filing.

**Additional Information About the Business Combination and Where to Find It**

In connection with the business combination by and among Pelican Acquisition Corporation ("Pelican"), Greenland Exploration Limited ("Greenland"), March GL, and Pelican Holdco, Inc. ("PubCo") (the "Business Combination"), Pelican filed with the U.S. Securities and Exchange Commission ("SEC") a registration statement on Form S-4 (the "Registration Statement"), which includes a proxy statement/prospectus of Pelican and was declared effective on February 17, 2026. Pelican will mail the definitive proxy statement/prospectus relating to the Business Combination to Pelican's shareholders as of the respective record dates to be established for voting on the Business Combination. The Registration Statement, including the proxy statement/prospectus contained therein, contains important information about the Business Combination and the other matters to be voted upon at a meeting of the Pelican shareholders (the "Pelican Shareholder Meeting"). This Current Report on Form 8-K does not contain all the information that should be considered concerning the Business Combination and other matters and is not intended to provide a basis for any investment decision or any other decision in respect of such matters. Pelican, Greenland, March GL, or PubCo may also file other documents with the SEC regarding the Business Combination. Pelican's shareholders and other interested persons are advised to read, when available, the Registration Statement, including the proxy statement/prospectus contained therein, the amendments thereto and the definitive proxy statement/prospectus and other documents filed in connection with the Business Combination, as these materials will contain important information about Pelican, Greenland, March GL, PubCo, and the Business Combination.

Pelican's shareholders and other interested persons will be able to obtain copies of the Registration Statement, including the proxy statement/prospectus contained therein, the definitive proxy statement/prospectus and other documents filed or that will be filed with the SEC, free of charge, by Pelican, Greenland, March GL, and PubCo through the website maintained by the SEC at <u>www.sec.gov</u>.

**Participants in the Solicitation**

Pelican, Greenland, March GL, PubCo, and their respective directors and officers may be deemed participants in the solicitation of proxies of Pelican shareholders in connection with the Business Combination. More detailed information regarding the directors and officers of Pelican, and a description of their interests in Pelican is contained in Pelican's filings with the SEC, including its Quarterly Report on Form 10-Q for the fiscal quarters ended July 31, 2025, which was filed with the SEC on September 15, 2025, April 30, 2025, which was filed with the SEC on June 27, 2025, and the initial business combination offering filed on Form S-1, and effective as of May 22, 2025, which are available free of charge at the SEC's website at <u>www.sec.gov</u>. Information regarding the persons who may, under the SEC rules, be deemed participants in the solicitation of proxies of Pelican's shareholders and other interested persons in connection with the Business Combination and other matters to be voted upon at the Pelican Shareholders Meeting will be set forth in the Registration Statement for the Business Combination when available.

**Forward-Looking Statements**

This Current Report on Form 8-K includes certain statements that may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act, and Section 21E of the Exchange Act. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words "anticipate," "believe," "continue," "estimate," "expect," "intends," "may," "might," "plan," "possible," "potential," "predict," "project," "seek," "should," "target," "would," and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements may include, but are not limited to, statements about Pelican, Greenland, and March GL's ability to effectuate the Business Combination discussed in this document; the benefits of the Business Combination; the future financial performance of PubCo (defined as the Greenland Energy Company, which will be the go-forward public company following the completion of the Business Combination) following the contemplated transactions; changes in the parties' strategy; future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management. These forward-looking statements are based on information available as of the date of this document, and current expectations, forecasts and assumptions, and involve a number of judgments, risks, and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing Pelican's, Greenland's, March GL's, or PubCo's views as of any subsequent date, and none of Pelican, Greenland, March GL, and PubCo undertakes any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Neither Pelican nor PubCo gives any assurance that either Pelican or PubCo will achieve its business expectations. Therefore, you should not place undue reliance on these forward-looking statements. As a result of a number of known and unknown risks and uncertainties, PubCo's actual result or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include: (i) the timing to complete the Business Combination by Pelican's business combination deadline, including after approval of applicable extensions and the potential failure to obtain such extension(s) of the business combination by the deadline if sought by Pelican; (ii) the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive agreements relating to the Business Combination, (iii) the outcome of any legal, regulatory, or governmental proceedings that may be instituted against Pelican, Greenland, March GL, or PubCo or any investigation or inquiry following announcement of the Business Combination, including in connection with the Business Combination; (iv) the inability to complete the Business Combination due to the failure to obtain approval of Pelican's shareholders or other interested persons; (v) Greenland, March GL, and PubCo's success in retaining or recruiting, or changes required in its officers, key employees or directors, following the Business Combination; (vi) the ability of the parties to obtain the listing of the PubCo's common stock on a national securities exchange upon the date of closing of the Business Combination; (vii) the risk that the Business Combination disrupts current plans and operations of Greenland or March GL; (viii) the ability to recognize the anticipated benefits of the Business Combination; (ix) the unexpected costs related to the Business Combination; (x) the amount of redemptions by the Pelican public shareholders being greater than expected; (xi) the management and board composition of PubCo following the Business Combination; (xii) limited liquidity and trading of PubCo's securities following completion of the Business Combination; (xiii) changes in domestic and foreign business, market, financial, political, and legal conditions, including March GL's expectations of receiving extensions on applicable licenses, (xiv) the possibility that Pelican, Greenland, or March GL may be adversely affected by other economic, business, and/or competitive factors; (xv) operational risks; (xvi) litigation and regulatory enforcement risks, including the diversion of management time and attention and the additional costs and demands on Pelican, Greenland, or March GL's resources; (xvii) the risk that the consummation of the Business Combination is substantially delayed or does not occur; and (xviii) other risks and uncertainties indicated from time to time in the Registration Statement, including those under "Risk Factors" therein, and in other filings of Pelican with the SEC.

**No Offer or Solicitation**

This Current Report on Form 8-K relates to a Business Combination by and among Pelican, Greenland, PubCo, and March GL. This document does not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the Business Combination. This document does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there by any offer, sale or exchange of securities in any state or jurisdiction in which such offer, solicitation, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities will be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act or an exemption therein.

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| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits** |

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 99.1 | [Transcript of the laptoptravel Interview dated March 17, 2026](pelicanacq_ex99-1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
|  | **PELICAN ACQUISITION CORPORATION** | **PELICAN ACQUISITION CORPORATION** |
| Dated: March 17, 2026 | By: | /s/ Robert Labbé |
|  | Name: | Robert Labbé |
|  |  | Chief Executive Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

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| | |
|:---|:---|
| ![](ex99-1_001.jpg) | **Private & Confidential** |

---

**Title: LaptopTravel Interview: Greenland Energy Company and the Pelican Acquisition Corp SPAC Transaction**

**Participants**

Laptop Travel – Hosst

Robert Price – CEO, Greenland Energy Company<br> Larry Swets – Executive Chairman, Greenland Energy Company

**<u>Tuesday, March 17 2026</u>**

**Time: 9 - 10 am eastern.**

Video Source: <u>https://streamyard.com/7hzjrhursr9e</u>

**Transcript (Organized by Speaker)**

**Introduction**

LaptopTravel:<br> Good morning everyone and welcome to this special Spaces interview on X. I'm LaptopTravel, a 45-year market veteran. These days I run an investment newsletter and work as an analyst within the StoryTrading community, focusing on real stories that move stocks.

Quick disclaimer: nothing discussed today is investment advice. Always do your own due diligence.

Today we're joined by Robert Price, CEO, and Larry Swets, Executive Chairman of Greenland Energy Company.

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| | |
|:---|:---|
| ![](ex99-1_001.jpg) | **Private & Confidential** |

---

With today being the shareholder vote for Pelican Acquisition Corp, this conversation focuses on the opportunity in the Jameson Land Basin in eastern Greenland, which may hold up to a trillion dollars in potential resources.

Let's begin with introductions.

**Opening Statements**

Robert Price:<br> Thank you. I started my career negotiating oil and gas leases, then specialized in energy law. I managed one of the largest oil and gas trust departments in the country and later drilled wells across multiple U.S. basins.

I've found millions of barrels of oil in my career. What excites me here is the opportunity to potentially find billions. That's what Greenland represents.

Larry Swets:<br> Thank you. My background is in investing and SPACs. I've been involved in them for about 20 years.

This project stands out as one of the most compelling asymmetric risk-reward opportunities I've seen. There's always risk, but the upside here is uniquely significant.

**Redemption and Capital Strategy**

LaptopTravel:<br> What is your message to shareholders deciding whether to redeem or stay invested?

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| | |
|:---|:---|
| ![](ex99-1_001.jpg) | **Private & Confidential** |

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Larry Swets:<br> The redemption deadline has passed. Today is the vote.

We've seen encouraging trading above $10, which suggests confidence. Regardless of redemption levels, we are confident in our ability to fund the project.

Importantly, while institutional capital is available, we wanted retail investors to participate in this opportunity alongside us.

**Project Background: ARCO and Greenland**

LaptopTravel:<br> Can you walk us through the history of this basin?

Robert Price:<br> ARCO, once one of the largest oil companies in the world, identified this basin as a top prospect after discovering Prudhoe Bay.

They spent $275 million on seismic work and infrastructure but abandoned the project due to low oil prices and an unfavorable royalty agreement with Denmark.

We later acquired the licenses directly from Greenland under much better terms, reducing royalties from nearly 40% to a sliding scale up to 15%.

Using modern seismic analysis, an independent report estimates up to 13 billion barrels of oil in just half the basin.

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| | |
|:---|:---|
| ![](ex99-1_001.jpg) | **Private & Confidential** |

---

**Operational Plan**

Robert Price:<br> We will drill two wells this year.

Equipment staged in Montreal by August<br> Deployment to Greenland in late summer<br> First well begins October<br> Each well takes about 30 days

We expect to test multiple oil zones per well and gather detailed reservoir data.

By year end, we should have a clear understanding of the basin's potential.

**Cost Structure and Economics**

Robert Price:<br> Our estimated breakeven is about $25 per barrel.

For comparison:<br> U.S. shale ranges around $60 to $70 per barrel

This would make us one of the lowest cost producers globally.

**Production Potential**

Robert Price:<br> At full development, production could reach:

1.5 to 2 million barrels per day

That is comparable to major global oil fields and could meaningfully impact European supply.

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| | |
|:---|:---|
| ![](ex99-1_001.jpg) | **Private & Confidential** |

---

**Valuation Framework**

Larry Swets:<br> This is not a traditional valuation situation.

We think about it in stages:

Current state: exploration rights valued around $215 million<br> After two successful wells: potential to reach $1 billion or more<br> Full production: significantly higher valuation

This is a probability-based, asymmetric opportunity.

**Strategic Exit or Partnership**

Robert Price:<br> We will likely need a major partner or acquirer for full field development.

Our role is to prove the resource through initial drilling. Large oil companies or sovereign entities would then scale production.

**Why SPAC Instead of IPO**

Larry Swets:<br> Traditional IPOs have become restrictive and selective.

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| | |
|:---|:---|
| ![](ex99-1_001.jpg) | **Private & Confidential** |

---

SPACs allow broader investor access, faster market entry, and participation from retail investors.

Without this route, this project likely would have remained private or been funded by foreign capital.

**Timeline to Ticker Change**

Larry Swets:<br> Expected sequence:

Shareholder vote: today<br> Closing: within 1 to 2 days<br> Ticker change to GLND: likely Thursday or Friday, possibly early next week

Buying PELI today means owning the future Greenland Energy Company.

**Investor Base Strategy**

Larry Swets:<br> We want a balanced shareholder base:

Retail investors<br> Institutional investors<br> Industry experts

Retail participation is important to maintain a healthy ownership structure and avoid overconcentration.

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| | |
|:---|:---|
| ![](ex99-1_001.jpg) | **Private & Confidential** |

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**Long-Term Vision**

Robert Price:<br> This project is about more than oil.

It includes Greenland economic independence, U.S. and European energy security, and potential development of other resources.

It could transform Greenland similar to how oil transformed Norway and Alaska.

**Closing Remarks**

Robert Price:<br> This is the most exciting project of my career. Thank you for your time and interest.

Larry Swets:<br> We are focused on delivering results for shareholders. The opportunity is still early and compelling. Do your due diligence, but we're excited about the journey ahead.

LaptopTravel:<br> Thank you both. This is a rare opportunity to hear directly from leadership on a frontier project of this scale. We look forward to following your progress as Greenland Energy transitions to public markets.