Company: CMND
Filing Date: 2025-11-13
Form Type: 424B5
Source: 0001213900-25-109567
Chunk: 10

Company: Clearmind Medicine Inc.
Filing Date: 2025-11-13
Form: 424B5
Chunk 10
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) (the “Minimum Stockholders’ Equity Rule”).

The Minimum Stockholders’
Equity requires companies listed on The Nasdaq Capital Market to maintain a minimum of $2,500,000 in stockholders' equity for continued
listing. However, based on our Form 6-K filed on September 11, 2025, where the Company filed its unaudited condensed interim consolidated
financial statements for the three and nine months ended July 31, 2025, filed on September 11, 2025, we reported a stockholders’
equity of $1,065,668, and we do not meet the alternatives of market value of listed securities or net income from continuing operations.
We are thus non-compliant with the Minimum Stockholders’ Equity Rule.

The Notification Letter has
no immediate effect on our listing on The Nasdaq Capital Market at this time, nor are our business operations affected by receipt of the
Notification Letter. In accordance with the Nasdaq Listing Rules, the Company has 45 calendar days, or until December 18, 2025, to submit
a plan to regain compliance. If the plan is accepted, Nasdaq can grant an extension of up to 180 calendar days from receipt of the Notification
Letter to evidence compliance.

We are looking into various
options available to regain compliance and maintain our continued listing on The Nasdaq Capital Market. There can be no assurance that
our plan will be accepted or we will be able to regain compliance with the Minimum Stockholders’ Equity.

As previously announced, on September 17, 2025,
we entered into securities purchase agreements (the “SPAs”) with investors (the “CLA Investors”) pursuant to which
we shall issue and sell, from time to time, convertible promissory notes (the “Promissory Notes”) in the aggregate principal
amount of up to $10,000,000 (the “Subscription Amount”). As of the date hereof, we have issued Promissory Notes in the aggregate
principal amount of $2.5 million, of which an aggregate of $2.2 million of outstanding amounts due under the Promissory Notes were converted
into 4,135,000 Common Shares. We expect that it will be able to demonstrate compliance with the Nasdaq stockholders’ equity requirement
if additional portions of the Promissory Notes are converted.

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Recent Developments

Convertible Notes Securities Purchase Agreement

On September 17,