Greenland Energy Company Announces Recommended All-Share Acquisition of 80 Mile plc combination to consolidate 100% ownership of the Jameson Land Basin licenses in Greenland in a single Nasdaq-listed energy and critical minerals company

(NASDAQ:GLND) Greenland Energy Company has agreed terms for a recommended all-share acquisition of 80 Mile plc (AIM:80M), referred to as the Combination. Under the terms, 80 Mile shareholders will receive 0.0079485 newly issued shares of Greenland Energy common stock for each 80 Mile share held. The terms value each 80 Mile share at 1.28 pence, based on Greenland Energy's closing share price of $2.14 on November 11, 2026 and a £/US$ exchange rate of US$1.33 : £1.00. The entire issued and to be issued share capital of 80 Mile is valued at approximately £74 million on a fully diluted basis. This represents a premium of approximately 71% to the closing price of 80 Mile shares on September 7, 2026, the last business day before the offer period began. Upon completion, Greenland Energy shareholders and 80 Mile shareholders will each own approximately 50% of the combined company. Greenland Energy will not issue warrants to its existing stockholders as part of the transaction. 80 Mile has executed a convertible loan agreement for access to a £3 million unsecured loan from Greenland Energy to provide interim funding for business continuity. The transaction is anticipated to be implemented by a scheme of arrangement under Part 26 of the UK Companies Act and governed by the UK City Code on Takeovers and Mergers. The Combination has been unanimously approved by Greenland Energy's board of directors, who intend to recommend that shareholders vote in favor. 80 Mile's independent directors also intend to recommend unanimously that 80 Mile shareholders vote in favor of the Scheme. Directors on both boards who hold shares have irrevocably undertaken to vote their beneficial holdings in favor of the Combination. Completion is subject to several conditions, including approval by 80 Mile shareholders, Court sanction of the Scheme, approval by Greenland Energy shareholders, admission of new Greenland Energy shares to trading on Nasdaq, and receipt of applicable regulatory and Greenlandic governmental consents or confirmations. Greenland Energy and 80 Mile are joint venture partners in the Jameson Land Basin project. The merger would consolidate 100% ownership of those licenses in a single Nasdaq-listed vehicle and combine 80 Mile's remaining portfolio with Greenland Energy's capital markets access and development capability. 80 Mile's operations require sustained capital investment before becoming financially self-sustaining. Greenland Energy brings a stronger financial position, including USD 37.4 million in cash and cash equivalents as of June 30, 2026, and access to lower-cost financing. The Combination is expected to streamline operations by reducing duplicative corporate functions and consolidating overlapping infrastructure. Robert Price, Chief Executive Officer of Greenland Energy, stated that the combination builds on the existing partnership, simplifies the development structure, preserves cash through an all-share transaction, and provides greater flexibility to prioritize investment across the combined portfolio. Further details will be set out in a Current Report on Form 8-K to be filed with the SEC.

Greenland Energy Company Announces the Resignation of Roderick McIllree From the Board of Directors

(NASDAQ:GLND) Greenland Energy Company announced that Roderick McIllree has resigned from the Company's Board of Directors. In connection with his resignation, Mr. McIllree also ceased serving in all other roles, positions, and assignments he held with the Company. The company stated that Mr. McIllree's resignation was not the result of any disagreement with the Company on any matters relating to the Company's operations, policies, or practices. Greenland Energy Company is described as an exploration stage oil and gas company focused on responsibly exploring and seeking to develop Greenland's hydrocarbon resources. The company places particular emphasis on the Jameson Land Basin in East Greenland. The company's primary mission is to unlock the frontier hydrocarbon potential of the Jameson Land Basin. The Jameson Land Basin is described as an approximately 2 million acre onshore licensed area. Greenland Energy Company aims to achieve its mission through the application of modern exploration technologies. The company is advancing preparations for future exploration activity in the region. The announcement reiterates the company's focus on responsible exploration and development. The company highlights its commitment to unlocking hydrocarbon resources in the Jameson Land Basin. The company provides a website for further information. The announcement does not mention any new appointments to replace Mr. McIllree. The company does not disclose any changes to its exploration plans or strategy as a result of the resignation. The company emphasizes that there are no disagreements underlying the resignation.

Greenland Energy Company Provides Update on Greenland Permitting Process and Project Planning

(NASDAQ: GLND) Greenland Energy Company announced that it has received an update from its JV partner, 80 Mile plc (AIM: 80M), which is leading the permitting process for the Company's Greenland project. The project's complexity will require a more extensive, comprehensive review process. The partners are now working toward a targeted permit timeline for winter 2027. Greenland Energy Company is preparing to execute the first modern onshore drilling campaign in the region. The Company is focused on responsibly exploring and seeking to develop Greenland's hydrocarbon resources, with an emphasis on the Jameson Land Basin in East Greenland. The Jameson Land Basin is an approximately 2-million-acre onshore licensed area.

Dr. Phil's Envoy Media Co. to Launch Original Greenland Arctic Adventure-Exploration Docuseries

(NASDAQ: GLND) Greenland Energy Company announced a wide-ranging partnership with Envoy Media Co. to produce an original docuseries—six one-hour weekly episodes—hosted by Dr. Phil McGraw and spotlighting Greenland Energy Company's Arctic exploration. The docuseries will chronicle Greenland Energy's historic Jameson Land Basin project and its planned 2026 campaign in East Greenland, the country's first modern onshore oil exploration. Envoy TV's 24/7 distribution includes Spectrum TV from Charter Communications in 41 top U.S. markets and Frndly TV (VMPD), available nationwide. The Envoy FAST channel is projected to reach more than 220 million TV households and connected devices across the United States by the series premiere. Greenland Energy Company recently announced that Arctic shipping vessels are scheduled to depart from Montreal, marking a major milestone toward its planned Jameson Land Basin drilling campaign. The company has disclosed business relationships with key contractors, including Halliburton, Stampede Drilling, and IPT Well Solutions. The series is slated to premiere late summer 2026.

Greenland Energy Company Announces Addition of Carol Craig to Board of Directors

(NASDAQ: GLND) Greenland Energy Company announced the appointment of Carol Craig to the Company's Board of Directors, effective June 5, 2026. Ms. Craig was appointed as a Class I director to fill the vacancy created by the resignation of Daniel M. McCabe and will also serve as a member of the Board's Audit Committee. Sidus Space, Inc. (NASDAQ: SIDU), founded by Ms. Craig, operates a 35,000-square-foot space manufacturing, assembly, integration, and testing facility and completed its initial public offering on the Nasdaq Stock Market in December 2021. Sidus Space developed and launched the LizzieSat (LS) series of hybrid, 3D-printed satellites, with LS-1 launching in March 2024, LS-2 launching in December 2024, and LS-3 launching March 2025. Greenland Energy Company is focused on exploring and seeking to develop Greenland's hydrocarbon resources, with an emphasis on the Jameson Land Basin in East Greenland, an approximately 2-million-acre onshore licensed area. The Company is preparing to execute the first modern onshore drilling campaign in the region, currently planned for 2026. The Board has determined that Ms. Craig qualifies as an "independent director" under the listing standards of The Nasdaq Stock Market LLC and meets the independence requirements for service on the Audit Committee under Rule 10A-3 of the Securities Exchange Act of 1934, as amended, and the applicable Nasdaq rules.

Greenland Energy Company (NASDAQ: GLND) Announces Haliburton Agreement and Updates Progress on 2026 Greenland Exploration Program

(NASDAQ: GLND) Greenland Energy Company announced operational and strategic updates following its recent public listing, including a services agreement with Halliburton and updates on its 2026 exploration program. The company completed a business combination with Pelican Acquisition Corporation and related entities, transitioning to public trading under the ticker: GLND, and closed a public offering that raised approximately $70 million in gross proceeds. Greenland Energy secured a five-year drilling agreement with Stampede Drilling for Rig #12 and an agreement with Halliburton (NYSE: HAL) for integrated consulting, logistics, and comprehensive well and drilling services. The company advanced field readiness in East Greenland, including approvals for mobilizing heavy equipment and progressed procurement, infrastructure planning, and logistics for its onshore program. The company is targeting the commencement of its first modern onshore drilling operations in the October 2026 window, beginning with the OPW-1 and OPW-6 exploration wells (approximately 3,500 meters each). Successful completion of these wells would allow Greenland Energy to earn up to a 70% working interest in the license area. The company is targeting multiple large structures in a basin with independent estimates of up to ~13.0 billion barrels of gross un-risked prospective oil resources, supported by historical seismic data and over $275 million in prior industry investment (inflation-adjusted).

Greenland Energy Company Announces Closing of $70 Million Public Offering

Greenland Energy Company (NASDAQ: GLND) announced the closing of its public offering, raising approximately $70 million through the sale of 16,250,000 shares of common stock, 1,250,000 pre-funded warrants, and 17,500,000 common warrants. Each share and warrant was sold at a combined price of $4.00, with warrants exercisable at $5.00 per share and expiring in five years. The financing fully funds the company's exploration program in Greenland's Jameson Land Basin, targeting a licensed area with up to 13 billion barrels of recoverable oil. The company plans to commence drilling operations in October 2026, with capital deployment focused on procurement, logistics, and field readiness.

Greenland Energy Company (NASDAQ: GLND) Advancing Arctic Exploration Strategy in Promising Land Basin Area

Greenland Energy Company (NASDAQ: GLND) announced its placement in an editorial published by EnergyWireNews, highlighting its Arctic exploration strategy in Greenland’s Jameson Land Basin. The company plans to drill two targeted wells later this year and anticipates earning up to a 70% working interest and accessing an estimated potential of up to 13 billion barrels of oil. Greenland Energy Company has entered into an agreement with Halliburton Company for integrated consulting, drilling, and logistical support for its 2026 exploration campaign. The announcement underscores the company's focus on responsibly developing Greenland’s hydrocarbon resources and advancing oil and gas exploration. This matters to investors due to the significant resource potential, high capital requirements, and associated operational, regulatory, and financial risks.

Global Instability Accelerates Push for Domestic Energy Security

Greenland Energy Company (NASDAQ: GLND) is advancing an Arctic exploration strategy focused on Greenland’s Jameson Land Basin. The company plans to drill two targeted wells later this year and anticipates securing rights to 70% of the basin, which has an estimated potential of up to 13 billion barrels of oil. Greenland Energy recently announced an agreement with Halliburton Company (NYSE: HAL) for integrated consulting, drilling, and logistical support for its 2026 exploration campaign. This move, along with earlier agreements, is part of the company's effort to build a fully integrated operational platform. The announcement comes amid rising instability in the Middle East and renewed concerns about global energy supply disruptions.

Greenland Energy Announces Pricing of $70 Million Public Offering

Greenland Energy Company (NASDAQ: GLND) announced the pricing of a public offering of 17,500,000 shares (or pre-funded warrants) at $4.00 per share, with each share sold together with a warrant to purchase one common share at $5.00 per share. Gross proceeds from the offering are expected to be $70 million before fees and expenses. The warrants have been approved for listing on the Nasdaq Global Market under the symbol 'GLNDW' and are expected to begin trading on April 28, 2026. The offering is expected to close on April 29, 2026, subject to customary closing conditions. The company intends to use the net proceeds for general corporate purposes, including working capital and operating expenses.

Greenland Energy (NASDAQ: GLND) Signs Halliburton Agreement for 2026 Jameson Land Drilling Campaign

Greenland Energy Company (NASDAQ: GLND) announced it has signed an agreement with Halliburton for integrated consulting and logistical management services, including comprehensive well and drilling services for its onshore campaign in the Jameson Land Basin. This agreement builds on previous strategic partnerships with Stampede Drilling and Desgagnés and is a key part of Greenland Energy’s Arctic operations strategy. The company recently celebrated its NASDAQ listing by ringing the Opening Bell at the Nasdaq MarketSite in Times Square on April 8, 2026. Greenland Energy expects to drill its first two wells in 2026 in the Jameson Land Basin, which spans approximately 2 million acres and is considered a promising unexplored oil basin. The company faces significant operational, regulatory, and financial risks, including high estimated well costs of $40 million for the first well and $20 million for subsequent wells.