Group 1: Strategic Importance of Greenland - Greenland is considered strategically important to the United States due to its geographical location and rich mineral resources, with President Trump emphasizing its significance for national security [1] - A 2023 survey indicated that 25 out of 34 "critical raw materials" identified by the European Commission are found in Greenland [1] Group 2: Mineral Resources Overview - Greenland has significant deposits of rare earth elements, primarily located in the southern Gardar region, which are essential for manufacturing electric vehicles and wind turbines [2] - Graphite is reported in multiple locations across the island, primarily used in electric vehicle batteries and steelmaking [4] - Copper deposits have been minimally explored, particularly in the northeastern and central eastern regions of Greenland [6][7] - Nickel mineralization is widespread across the island, with exploration efforts ongoing [9] - Zinc is primarily distributed along a geological structure extending over 2,500 kilometers in the northern part of Greenland [11] - Gold exploration is most promising around the southern Sermiligaarsuk fjord [13] - Diamonds have been found mainly in the western part of the island, with potential in other regions [15] - Iron ore is distributed in the southwestern Isua, central-western Itilliarsuk, and northwestern Lauge Koch Kyst areas [16] - Titanium and vanadium deposits are known in the southwestern, eastern, and southern regions, with titanium used in various industries and vanadium for special steel alloys [17] - Tungsten is found in the central eastern and northeastern parts, with assessed deposits in the southern and western regions [18] - Uranium mining was effectively halted in 2021 due to a ban by the then-ruling left-wing party, impacting the Kuannersuit rare earth project [19] Group 3: Companies Involved in Resource Development - Companies interested in developing rare earth resources include Critical Metals Corp, which has acquired the Tanbreez deposit, and Neo Performance Materials [3] - GreenRoc has applied for mining permits to develop the Amitsoq graphite project [5] - 80 Mile, a London-listed company, is focused on developing the Disko-Nuussuaq deposit, which contains copper, nickel, platinum, and cobalt [8] - Anglo American obtained exploration permits in 2019 for nickel resources in western Greenland [10] - Multiple companies have attempted to advance the Citronen Fjord zinc-lead project, recognized as one of the largest undeveloped zinc resources globally [12] - Amaroq Minerals has initiated a gold mine at Nalunaq Mountain in Kujalleq Municipality [14]

Core Viewpoint - Pelican Acquisition Corporation has signed a definitive Agreement and Plan of Merger with Greenland Exploration Limited and March GL Company, aiming to create Greenland Energy Company, which will focus on hydrocarbon exploration in the Jameson Land Basin in East Greenland [1][4][8] Company Overview - Pelican Acquisition Corporation is a publicly listed special purpose acquisition company (SPAC) that is set to merge with Greenland Exploration and March GL, transitioning to Greenland Energy Company post-merger [1][15] - Greenland Exploration Limited is focused on developing strategic positions in North American energy assets, aiming to deliver long-term shareholder value [12] - March GL Company has entered into an agreement for drilling in the Jameson Land Basin and will fund exploration wells to delineate the energy potential of the area [13] Industry Insights - The Jameson Land Basin has significant hydrocarbon potential, with recoverable resources estimated in the multi-billion-barrel range, although it has remained undrilled due to past corporate and macroeconomic conditions [2][6] - March GL has reprocessed legacy seismic data, identifying over 50 distinct oil and gas targets, which positions the company to accelerate drilling efforts in the basin [3][5] - The Greenland Government has approved the mobilization of heavy equipment for drilling activities, indicating a supportive regulatory environment for resource development [4][5] Transaction Highlights - The merger is expected to close in the fourth quarter of 2025, with an implied valuation of $215 million for up to 70% ownership in the Jameson Land Basin [7][15] - Existing shareholders of Greenland Exploration and March GL will receive a significant number of shares in the new Greenland Energy Company, with Pelican shareholders receiving one share for each share they hold [15] Leadership and Governance - Post-merger, the leadership team will include Larry G. Swets, Jr. as Executive Chairman and Robert Price as CEO, with representatives from all three companies involved [10]