Greenland Energy and 80 Mile agree all-share combination

what happened

Greenland Energy Co and 80 Mile plc have announced a recommended combination to be carried out entirely in shares, Reuters reported. Each 80 Mile shareholder will receive 0.0079485 Greenland Energy shares for every 80 Mile share. The deal values 80 Mile's share capital at about £74 million on a fully diluted basis, or 1.28 pence per share. Once completed, shareholders of the two companies will each own 50% of the combined company.

TradingView, citing a PR Newswire release, said the transaction would bring all 100% of the Jameson Land Basin licences under one owner. Completion requires shareholder and court approvals, a listing of the new shares on Nasdaq and regulatory consents, including those of Greenlandic authorities. Greenland Energy reported $37.4 million in cash as of June 30, 2026.

why it matters

Two points matter for the market. The deal contains no cash component, so issuing new shares could dilute existing Greenland Energy shareholders. It is also a proposal rather than a completed transaction, and several approvals are still outstanding. Consolidating all licences under one owner changes the ownership and development structure of the project.

market impact

Greenland Energy and 80 Mile: share-only deal changes ownership structure of the Jameson Land project

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