Greenland Energy Locks In Arctic Shipping Deal for Major Oil Drilling Project in Greenland

The leadership team behind the formation of Greenland Energy Company ("Greenland") today announced a strategic logistics agreement that had been entered with Desgagnés, a premier Canadian maritime group, to support the transportation of cargo for upcoming drilling operations in the Jameson Land Basin with coordination from and approval by Royal Arctic Line, Greenland's exclusive license holder for maritime logistics.

This agreement provides the specialized ice-class vessel and arctic beach landing capacity required to mobilize equipment and crews for one of the industry's most anticipated frontier projects. Desgagnés also provides port services at the Port of Valleyfield, a port specializing in consolidating Arctic projects and handling breakbulk cargo. Desgagnés' beach-landing services are designed to complement Royal Arctic Line's essential sealift services and operate within RAL's national logistics framework. It marks a pivotal operational milestone as the company prepares to unlock a basin with significant oil resource potential.

This agreement was executed by March GL Company, the entity along with Greenland Exploration Ltd. set to merge with Pelican Acquisition Corporation ("Pelican") (NASDAQ:PELI). Upon closing of the pending business combination, the resulting company – Greenland Energy Company – is expected to list on Nasdaq under the ticker symbol "GLND."