Psyence enters into amending agreement with GoldCoast Resource

Psyence Group Inc. has entered into an amending agreement dated February 24, 2026 with GoldCoast Resource Corp. and Psyence Therapeutics Corp., a wholly owned subsidiary of Psyence, to amend the definitive amalgamation agreement dated November 21, 2025, as previously announced by the Company on November 24, 2025.

GoldCoast Resource Corp. is a private Ontario company founded by a team of mining professionals focused on environmentally responsible near-shore mineral exploration using marine dredge-mining technology.

The Amending Agreement provides for certain amendments to the Amalgamation Agreement in connection with the proposed three-cornered amalgamation under the Business Corporations Act, including:

• an extension of the long-stop date for the holding of required shareholder meetings from January 30, 2026 to April 30, 2026;

• an extension of the outside date for completion of the Amalgamation from March 31, 2026 to May 31, 2026;

• a corresponding extension of the termination date under the Amalgamation Agreement from March 31, 2026 to May 31, 2026; and

• a reduction of the minimum cash condition applicable to Psyence at closing from C$400,000 to C$250,000.

The proposed transaction continues to constitute a “Change of Business” under Policy 8 – Fundamental Changes and Changes of Business of the Canadian Securities Exchange.