Psyence target GoldCoast closes $5.82-million financing

An anonymous director reports GOLDCOAST CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT GoldCoast Resource Corp., the private company with which Psyence Group Inc. has entered into a definitive amalgamation agreement dated Nov. 21, 2025, as amended Feb. 24, 2026, has completed a brokered private placement through the issuance of 6,853,840 common shares of GoldCoast at a price of 85 cents per GoldCoast for gross proceeds of $5,825,764. GoldCoast anticipates that it will complete a non-brokered private placement of GoldCoast shares at the same price per share to close in tranches over the next several weeks. The financing was completed in connection with the proposed amalgamation transaction previously announced by the company and is intended to finance exploration activities and working capital of GoldCoast. Completion of the financing satisfies a condition precedent to the proposed amalgamation under the amalgamation agreement. Further details regarding the proposed transaction will be included in the listing statement to be prepared and filed in connection with the company's proposed change of business. Completion of the amalgamation remains subject to a number of conditions, including receipt of all required shareholder and regulatory approvals and the satisfaction of the requirements of the Canadian Securities Exchange. There can be no assurance that the proposed transaction will be completed as proposed or at all. About GoldCoast Resource Corp. GoldCoast Resource is a private Ontario company founded by a team of experienced mining professionals focused on environmentally responsible near-shore mineral exploration using marine dredge mining technology. About Psyence Group Inc. Psyence Group is a life science biotechnology company focused on the development of nature-derived psychedelic products for mental health and wellness applications. Psyence is currently advancing a proposed reverse takeover transaction with GoldCoast Resource, a private mineral exploration company focused on offshore gold exploration in Ghana. Upon completion of the transaction, the resulting issuer is expected to pursue the business of GoldCoast, subject to receipt of all required regulatory and shareholder approvals. Psyence's current operations are focused on research and development initiatives involving nature-derived psilocybin products. There can be no assurance that the proposed transaction will be completed as contemplated or at all. We seek Safe Harbor.