Ogier in Hong Kong acts on Pelican Acquisition Corporation deSPAC

Ogier’s Corporate team in Hong Kong has advised Pelican Acquisition Corporation on the closing of its business combination with Greenland Exploration Limited.

Greenland Exploration Limited is an energy company focused on enhancing global energy security through the responsible development of Greenland’s natural resources. Following the closing, the combined company will operate as Greenland Energy Company (Greenland Energy).

The Jameson Land Basin in East Greenland has been the focus of extensive exploration and research for many years. Greenland Energy has now built on this foundation, reprocessing the legacy seismic data with modern technology. This work has identified more 50 distinct oil and gas targets, many with clear structural and stratigraphic trapping potential.

Ogier advised as Cayman counsel on Pelican Acquisition Corporation's complete SPAC lifecycle from IPO to de-SPAC. The team was led by Florence Chan, partner in Ogier's Corporate team in Hong Kong, with support from Ogier's global head of Corporate Nathan Powell and legal manager Anna Cheung.

The transaction closed on 25 March 2026, with the post-combination company trading on The Nasdaq Stock Market under the new ticker symbol GLND from 26 March 2026.

Ogier's Corporate team has considerable experience working with clients on the establishment and the listing of SPACs, together with navigating the Cayman aspects of the subsequent de-SPAC process, from advising on structuring options with respect to the de-SPAC transaction to the listing of the combined public offering. Read more about Ogier's SPAC and de-SPAC services.