March GL Company has secured a strategic interest in the Jameson Concession in East Greenland, an undrilled onshore basin recognized for its exceptional industrial gases and liquids-rich potential. Haynes Boone advised March GL Company across multiple facets of the transaction, which involved partnering with AIM-listed 80 Mile plc (AIM: 80M) (OCT: BLLYF) through a joint venture structure.
To facilitate the investment, Haynes Boone’s Texas Corporate Governance Practice Group, led in this matter by Dallas Capital Markets Partner Matt Fry and Associate Logan Weissler, guided March GL’s incorporation in Texas. Establishing a Texas entity positioned March GL to efficiently transact with a London-listed company and structure its operational role in the Greenland project. The group was launched in March 2025 to meet rising demand from companies seeking strategic, business-friendly alternatives to traditional incorporation hubs amid Texas’s growing prominence as a national corporate center.
Haynes Boone’s London Capital Markets team, led by London Office Co-Head Nick Davis, advised March GL on the cross-border joint venture aspects of the transaction, navigating the regulatory frameworks between the United States, the United Kingdom and Greenland. The structure allows March GL to fund and operate the exploration of the Jameson Basin, an area spanning over 8,400 square kilometers with geological characteristics similar to major producing regions such as the North Sea and Prudhoe Bay.
“This transaction exemplifies the importance of seamless strategic entity structuring and cross-border coordination when working across jurisdictions,” Davis said. “The team has done a great job in supporting March GL in advancing together with 80 Mile plc an energy project of this potential scale and significance.”
The project’s cross-border elements, involving corporate formation, capital markets strategy and energy sector investment, drew upon Haynes Boone’s integrated global capabilities.
Haynes Boone's Capital Markets practice has played a leading role in numerous IPOs, reverse mergers, acquisitions, follow-on offerings and PIPE financings in recent years across sectors including technology, life sciences, energy and financial services. The firm provides comprehensive advice to clients trading on all major U.S. securities exchanges, over-the-counter markets and all major U.K. stock markets and many foreign markets on a full range of securities transactions and reporting matters.
