Company: CMND
Filing Date: 2025-11-26
Form Type: 424B5
Source: 0001213900-25-115106
Chunk: 45

Company: Clearmind Medicine Inc.
Filing Date: 2025-11-26
Form: 424B5
Chunk 45
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 | Under                                                                                                                                   
 the DGCL, subject to any restrictions contained in the certificate of incorporation, a corporation may pay dividends out of capital     
 surplus or, if there is no surplus, out of net profits for the current and/or the preceding fiscal year in which the dividend is        
 declared, as long as the amount of capital of the corporation following the declaration and payment of the dividend is not less than    
 the aggregate amount of the capital represented by issued and outstanding shares having a preference upon the distribution of assets.   
 Surplus is defined in the DGCL as the excess of the net assets over capital, as such capital may be adjusted by the board. A Delaware   
 corporation may purchase or redeem shares of any class except when its capital is impaired or would be impaired by the purchase or      
 redemption. A corporation may, however, purchase or redeem out of capital shares that are entitled upon any distribution of its assets  
 to a preference over another class or series of its shares if the shares are to be retired and the capital reduced.                     |     | Under                                                                                                                                        
 the BCBCA, a company may pay a dividend in money or other property unless there are reasonable grounds for believing that the company        
 is insolvent, or the payment of the dividend would render us insolvent. The BCBCA provides that no special rights or restrictions            
 attached to a series of any class of shares confer on the series a priority in respect of dividends or return of capital over any            
 other series of shares of the same class. Under the BCBCA, the purchase or other acquisition by a company of its shares is generally         
 subject to solvency tests similar to those applicable to the payment of dividends (as set out above). Our company is permitted, under        
 its articles, to acquire any of its Common Shares, and the approval of its board of directors. Under the BCBCA, subject to solvency          
 tests similar to those applicable to the payment of dividends (as set out above), a company may redeem, on the terms and in the manner       
 provided in its articles, any of its shares that has a right of redemption attached to it.                                                   |
| Vacancies                                  
 on Board of Director                       |     | Under                                                                                                                                   
 the DGCL, a vacancy or a newly created directorship may be filled by a majority of the directors then in office, although less than     
 a quorum, or by the sole remaining director, unless otherwise provided in the certificate of incorporation or bylaws. Any newly elected 
 director usually holds office for