An anonymous director reports

PSYENCE GROUP ANNOUNCES GOLDCOAST RESOURCE CLOSES SECOND TRANCHE OF OFFERING

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 the second tranche of its previously announced financing. This tranche comprised a non-brokered private placement through the issuance of 3,280,140 common shares of GoldCoast at a price of 85 cents per GoldCoast for gross proceeds of $2,778,119. Together with the previously completed brokered tranche for gross proceeds of $5,825,764, GoldCoast has raised aggregate gross proceeds of $8,603,883.

The offering 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 offering 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 transactions contemplated by the amalgamation agreement 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 Psyence Group Inc.

Psyence 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, 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.