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Greenland Energy to Commence Trading After 17 Mar
Greenland Energy is expected to commence trading on NASDAQ under the ticker GLND around March 18, 2026, following shareholder approval on March 17, 2026, for its acquisition by Pelican Acquisition Corporation. This combined entity, formed from Greenland Exploration Limited and March GL Company, will have the right to earn up to a 70% working interest in the Jameson project in East Greenland by funding two exploration wells, with 80 Mile PLC retaining a 30% interest. The Jameson project, covering two million acres, has an independent estimate of 13.03 billion barrels (P10) of gross un-risked recoverable prospective oil resources, equating to approximately 3.9 billion barrels net to 80 Mile. Drilling is anticipated in the second half of 2026, with heavy equipment already mobilized. Disclaimer*
About this update from 80 Mile Plc
[{"type":"text","content":"\n\n\n \n \n \n27 February 2026\n \nGreenland Energy (NASDAQ.GLND) Expected to Commence Trading After Pelican (NASDAQ.PELI) Shareholder Approval on 17 March\n80 Mile PLC ('80M' or the 'Company'), the AIM, FSE, and OTC listed exploration and development company with projects in Greenland, Finland and Italy, confirms that Greenland Energy Company is expected to commence trading on NASDAQ on or around 18 March 2026, under the ticker \"GLND\", subject to shareholder approval at the general meeting anticipated to be held on 17 March 2026.\nGreenland Energy Company will be the combined entity formed following the proposed acquisition by Pelican Acquisition Corporation (NASDAQ: PELI) (\"Pelican\") of Greenland Exploration Limited (\"GEL\") and March GL Company (\"March GL\"). As announced on 19 February 2026, the SEC approved the acquisition, with the final step being shareholder approval.\nUnder the terms of 80 Mile's definitive joint venture agreement, GLND/PELI is entitled to earn up to a 70% working interest in Jameson by funding 100% of the costs associated with up to two exploration wells, each to a minimum depth of approximately 3,500 metres. 80 Mile will retain a 30% interest in Jameson through its wholly owned subsidiary, White Flame Energy A/S.\nJameson comprises approximately two million acres in East Greenland and has been the subject of extensive historical exploration by major oil companies. As previously disclosed by the Company on 29 October 2025, an independent prospective resources report prepared by Sproule ERCE estimated 13.03 billion barrels (P10) of gross un-risked recoverable prospective oil resources across the upper levels of the Jameson Basin, equating to approximately 3.9 billion barrels (P10) net to 80 Mile. GLND, the Company's JV partner, has secured executed agreements with leading oilfield service providers and has mobilised heavy equipment to East Greenland in preparation for drilling in H2 2026, subject to regulatory approvals.\nRod McIllree, Executive Director of 80 Mile, commented:\n\"With shareholder approval on the transaction between Pelican, GEL and March GL now expected to be received on 17 March, this marks the final hurdle for the newly merged group, Greenland Energy Company, to list on the NASDAQ under the ticker GLND. This represents a positive milestone for 80 Mile, enhan...