Business
Psyence Group Inc. Enters Into a Letter of Intent to Acquire Goldcoast Resource Corp.
TORONTO, ON / ACCESS Newswire / August 22, 2025 /Psyence Group Inc. (CSE:PSYG) ("Psyence" or the "Company"), announces that it has entered into a letter of intent (the "LOI") to acquire all of the issued and outstanding securities and securities convertible ...
About this update from Psyence Group Inc.
[{"type":"text","content":"TORONTO, ON / ACCESS Newswire / August 22, 2025 / Psyence Group Inc. (CSE:PSYG) ("Psyence" or the "Company"), announces that it has entered into a letter of intent (the "LOI") to acquire all of the issued and outstanding securities and securities convertible into securities of GoldCoast Resource Corp. (the "Target" or "GoldCoast"), a corporation existing under the laws of Ontario (the "Acquisition").The Acquisition constitutes a "Change of Business" under the Canadian Securities Exchange ("CSE") policies.","length":590,"tagName":"p"},{"type":"text","content":"GoldCoast was incorporated by a team of gold industry veterans who are engaged in environmentally responsible shallow-water mineral exploration off the south coast of Ghana in the Atlantic Ocean. This approach leverages established marine dredge-mining technology to identify, explore and develop new prospects for gold and heavy mineral exploration.","length":351,"tagName":"p"},{"type":"text","content":"It is anticipated that the Acquisition will be completed by way of a three-corner amalgamation or similar transaction under the Business Corporations Act (Ontario), pursuant to which a wholly owned subsidiary of Psyence will amalgamate with the Target and each issued and outstanding common share of the Target will be exchanged for one common share of the resulting issuer ("Resulting Issuer Share"). Convertible securities of the Target will be exchanged on the same basis. The exchange ratio refers to post-consolidation shares of the Company, if applicable.","length":571,"tagName":"p"},{"type":"text","content":"The Acquisition is an arm's length transaction and is subject to, among other things, the execution of a definitive agreement, completion of satisfactory due diligence by each party, receipt of all required corporate, shareholder and regulatory approvals (including CSE conditional approval for the listing of the Resulting Issuer Shares), and other customary closing conditions. Following closing, the board of directors and senior management of the Resulting Issuer will be reconstituted to include nominees of the Target.","length":528,"tagName":"p"},{"type":"text","content":"Pursuant to the LOI, Psyence will advance a secured loan of US$250,000 to GoldCoast bearing interest at 10...