Company: CMND
Filing Date: 2025-11-13
Form Type: 424B5
Source: 0001213900-25-109567
Chunk: 16

Company: Clearmind Medicine Inc.
Filing Date: 2025-11-13
Form: 424B5
Chunk 16
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If we raise additional funds through collaboration, strategic alliance or licensing arrangements with third parties, we may have to relinquish
valuable rights to our technologies, future revenue streams or product candidates, or grant licenses on terms that are not favorable to
us.

You will experience immediate dilution in book value of any Common Shares you purchase.

Because the price per Common
Share being offered is substantially higher than our net tangible book value per Common Share, you will suffer substantial dilution in
the net tangible book value of any Common Shares you purchase in this offering. After giving effect to the sale by us of Common Shares
and Pre-Funded Warrants in this offering, based on a public offering price of $0.20 per Common Share and $0.1999 per Pre-Funded Warrant,
and after deducting offering expenses payable by us, our pro forma as adjusted net tangible book value of our Common Shares would be approximately
$3.9 million, or approximately $0.29 per Common Share, as of July 31, 2025. If you purchase Common Shares in this offering, you will suffer
immediate and substantial dilution of approximately $0.10 per Common Share. To the extent outstanding options or warrants are exercised,
you will incur further dilution. See “Dilution” on page S-13 for a more detailed discussion of the dilution you will incur
in connection with this offering.

<div align='center'>S-6</div>

Common Shares representing a substantial percentage of our outstanding shares may be sold in this offering, which could cause the price of our Common Sharesto decline.

We are selling in this offering
3,942,365 Common Shares and/or pre-funded warrant, or approximately 41%, of our outstanding Common Shares, prior to this offering, as
of November 12, 2025. This sale and any future sales of a substantial number of Common Shares in the public market, or the perception
that such sales may occur, could materially adversely affect the price of our Common Shares. We cannot predict the effect, if any, that
market sales of those Common Shares or the availability of those Common Shares for sale will have on the market price of our Common Shares.

We do not know whether a market for the Common Shares will be sustained or what the trading price of the Common Shares will be and as a result it may be difficult for you to sell your Common Shares.

Although our Common Shares
trade on the Nasdaq and the FSE, an active