RE: Alert reminder13 Jan 2026 15:48
Pelican Acquisition Corporation, Greenland Exploration Limited, and March GL Company are merging into a single new entity, to be named Greenland Energy Company, which is expected to trade on NASDAQ under the ticker "GNLD".
80 Mile plc (an independent, publicly listed company) has a joint venture agreement with March GL Company.
Under the agreement, March GL obtained the rights to earn up to a 70% interest in 80 Mile's Jameson oil and gas basin licenses in East Greenland by fully funding the costs of up to two exploration wells.
80 Mile plc will retain a 30% interest in the Jameson project, which was valued at approximately US$92 million based on the terms of the Pelican merger with March GL.