NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO, ON / ACCESS Newswire / September 1, 2026 / Pelican AI Corp. (the "Company" or "Pelican") is pleased to announce that the Canadian Securities Exchange (the "CSE") has granted final approval for the listing of the Company's common shares (the "Common Shares"), and that the Common Shares are expected to commence trading on the CSE at market open on September 1, 2026 under the symbol "PEL".

The listing follows completion, on August 27, 2026, of the Company's previously announced reverse takeover transaction (the "Transaction") with Pelican Canada Inc. ("PCI" and, together with its subsidiaries, the "Pelican Group"). The Transaction was completed by way of a three-cornered amalgamation under the Business Corporations Act (Ontario), following which the amalgamated corporation became a wholly-owned subsidiary of the Company. For further details, please see the Company's news release dated August 27, 2026.

The Company also announces that it has engaged Independent Trading Group (ITG), Inc. ("ITG") to provide market making services in respect of the Common Shares, in accordance with the policies of the CSE. The engagement is effective September 1, 2026 and is for an initial term of one month, automatically renewing for additional one-month terms unless terminated. The agreement may be terminated by either party on 30 days' notice. There are no performance factors contained in the agreement, and ITG will not receive shares or options as compensation. ITG and the Company are unrelated and unaffiliated entities and, at the time of the agreement, neither ITG nor its principals has an interest, directly or indirectly, in the securities of the Company.

ITG, as the Company's market maker, aims to ensure a fair and efficient market for the Common Shares, adhering to CSE policies. This involves buying and selling the Common Shares on the CSE and other alternative Canadian trading venues. In exchange for these services, ITG will receive a monthly fee of C$5,000 from Pelican, plus applicable taxes. ITG's office address is 33 Yonge Street, Suite 420, Toronto, Ontario, Canada, M5E 1G4 and its principal contact is Chris Kaplan (chriskaplan@itg84.com).

About Pelican AI Corp.

The Pelican Group specializes in AI-driven solutions for payment processing and financial crime compliance. With over 25 years of experience, the Pelican Group leverages artificial intelligence, machine learning and natural language processing to support banks, fintech companies and corporations in managing payments and ensuring regulatory compliance. Operating in over 55 countries, the Pelican Group has processed more than one billion transactions across various payment types and global banking standards.

For further information, please contact:

Nino Di Teodoro
Chief Executive Officer
T: 905-401-1550
E: nditeodoro@pelican.ai

Daren Trousdell
Executive Chairman and Director
T: 732-603-4990
E: daren@koatcapital.com

Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation, including statements regarding the commencement of trading of the Common Shares on the CSE under the symbol "PEL", the provision of market making services by ITG, the release of securities from escrow, the terms and termination of the contractual resale restrictions, the Company's business plans and objectives, and the status and potential outcomes of the disclosed litigation. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially, including the risk that trading does not commence when anticipated, the risks associated with the disclosed litigation, general economic and market factors, competition, and the other risks described in the Company's public disclosure documents available on SEDAR+. Readers are cautioned not to place undue reliance on forward-looking information. The Company disclaims any obligation to update forward-looking information except as required by law.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities referred to in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States absent registration or an applicable exemption.

Pelican is involved in ongoing litigation. Readers are directed to the Company's August 27, 2026 news release and the disclosure in "Item 23 - Legal Proceedings and Regulatory Actions" and "Item 21 - Risk Factors" in the Company's CSE Form 2A Listing Statement available on the Company's SEDAR+ profile at www.sedarplus.ca for further details.

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

SOURCE: Ocham's Razor Capital Limited