Psyence Group Inc. Provides Update on Proposed Amalgamation with GoldCoast Resource Corp.

Executive Summary

• GoldCoast Resource Corp. closed the first brokered private placement, issuing 6,853,840 common shares at $0.85 per share for gross proceeds of $5,825,764.
• Proceeds are earmarked to fund GoldCoast’s exploration activities and working capital, and satisfy a condition precedent to the proposed amalgamation with Psyence Group Inc.
• The financing enables the company to pursue additional non‑brokered tranches in the coming weeks, advancing the pending reverse‑takeover transaction.

Key Details

• Shares Issued: 6,853,840 GoldCoast common shares.
• Price per Share: $0.85.
• Gross Proceeds: $5,825,764.
• Use of Proceeds: Exploration activities and working capital for GoldCoast; satisfies a condition precedent to the Psyence‑GoldCoast amalgamation.
• Financing Structure: First tranche of a brokered private placement; additional non‑brokered tranches expected at the same price in upcoming weeks.
• Amalgamation Context: Completion of this financing is required under the Amalgamation Agreement dated November 21, 2025 (amended February 24, 2026). The transaction remains subject to shareholder and regulatory approvals and CSE requirements.
• Forward‑Looking Statements: Include expectations for further tranches, use of proceeds, and successful completion of the amalgamation; subject to risks and uncertainties outlined in Psyence’s MD&A.

Notable Quotes

(No direct quotes were provided in the release.)