Psyence target GoldCoast closes $5.82-million financing

Executive Summary

• GoldCoast Resource Corp. has closed the first tranche of a brokered private placement, issuing 6,853,840 common shares at $0.85 per share for gross proceeds of $5,825,764.
• This financing is a condition precedent to the proposed amalgamation between GoldCoast Resource Corp. and Psyence Group Inc., dated November 21, 2025, as amended February 24, 2026.
• The proceeds are intended to fund exploration activities and working capital for GoldCoast, and the company anticipates completing additional non-brokered tranches in the coming weeks.

Key Details

• Transaction Structure: Brokered private placement of common shares.
• Shares Issued: 6,853,840 common shares of GoldCoast.
• Price Per Share: $0.85 CAD.
• Gross Proceeds: $5,825,764.
• Use of Proceeds: Exploration activities and working capital of GoldCoast.
• M&A Context: The financing satisfies a condition precedent to the proposed amalgamation between GoldCoast Resource Corp. (mineral exploration in Ghana) and Psyence Group Inc. (psychedelic biotechnology).
• Future Financing: GoldCoast anticipates completing a non-brokered private placement at the same price per share, closing in tranches over the next several weeks.
• Regulatory Status: Completion of the amalgamation remains subject to shareholder and regulatory approvals and requirements of the Canadian Securities Exchange.
• Company Profiles:
  • GoldCoast Resource Corp.: Private Ontario company focused on near-shore mineral exploration using marine dredge mining technology.
  • Psyence Group Inc.: Life science biotechnology company developing nature-derived psychedelic products for mental health and wellness.

Notable Quotes

• None provided in the text.