GoldCoast Closes First Tranche of Private Placement
TORONTO, ON / ACCESS Newswire / March 17, 2026 /
Psyence Group Inc. (CSE:PSYG)(“
Psyence” or the “
Company”) announces that GoldCoast Resource Corp. (“
GoldCoast”), the private company with which Psyence has entered into a definitive amalgamation agreement dated November 21, 2025, as amended February 24, 2026 (collectively, the “
Amalgamation Agreement”), has completed a brokered private placement through the issuance of 6,853,840 common shares of GoldCoast (each, a “
GoldCoast Share”) at a price of $0.85 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 fund 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 Corp. 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 Inc. (CSE:PSYG) 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 Corp., 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.
