RE: Valuation10 Sep 2025 13:45
Huge RNS
80 Mile PLC has announced that Pelican Acquisition Corporation has entered a Definitive Merger Agreement with Greenland Exploration Limited (GEL), valuing 80 Mile's 30% interest in the Jameson liquid hydrocarbon project at approximately US$92 million. The agreement values March GL at approximately US$215 million, excluding the expected US$86 million in cash post-transaction. The merger will result in a combined implied equity value of approximately US$337 million, based on US$10.00 per share, with the new entity, Greenland Energy Company, expected to trade on Nasdaq under the ticker GLND in the fourth quarter of 2025.