Pelican Acquisition Corp. and Greenland Energy secure critical Arctic logistics support

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”). Upon closing of the pending business combination, the resulting company – Greenland Energy Company – is expected to list on Nasdaq under the ticker symbol “GLND.”

“Reliable Arctic logistics are the backbone of execution in this region,” said Robert Price, CEO of March GL and incoming CEO of Greenland Energy Company. “We are moving from planning to action. Desgagnés brings the specific high-latitude experience and marine assets necessary to safely transport our drilling infrastructure into the Jameson Land Basin. Working closely with Royal Arctic Line ensures alignment with Greenland’s logistics framework and strengthens overall supply chain resilience. This partnership ensures we have the supply chain resilience to execute our 2026 campaign and deliver on the basin’s world-class potential.”

The collaboration supports the launch of Greenland’s first onshore oil exploration program in more than half a century. Larry Swets, CEO of Greenland Exploration Limited and future Executive Chairman, emphasized the strategic timing: “We are rapidly de-risking this project – not just geologically, but operationally.”

Headquartered in Quebec, Desgagnés operates a modern fleet of ice-class vessels across the Arctic. The partnership underscores a shared commitment to responsible development in sensitive environments. As the national maritime logistics authority and key partner, Royal Arctic Line’s collaboration with Desgagnés on the beach-landing scope supports safe, coordinated execution in Greenland.

“Operating in the Arctic requires deep respect for the region’s population, environment, and its technical complexity,” said Louis-Marie Beaulieu, Chairman of the Board and CEO of Desgagnés. “Our collaboration with the Greenland Energy team reflects a shared commitment to safety and the long-term prosperity of northern communities. We also value our operational alignment and collaboration with Royal Arctic Line to ensure safety, compliance, and complementary capabilities. We are proud to help enable one of the most ambitious energy projects in the world.”