Company: CMND
Filing Date: 2025-11-19
Form Type: 424B5
Source: 0001213900-25-112329
Chunk: 12

Company: Clearmind Medicine Inc.
Filing Date: 2025-11-19
Form: 424B5
Chunk 12
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 aggregate principal amount of all Promissory Notes purchased pursuant to the SPAs shall not exceed
the Subscription Amount. Any additional Promissory Notes will be issued on the same terms.

The outstanding principal
amount and accrued interest under the Promissory Notes are to be repaid in ten equal monthly installments beginning on the eighteenth
month anniversary of the issuance date thereof, unless repaid earlier (partially or in full) at our option or if extended at the option
of the CLA Investors. The principal amount under the Promissory Notes bears an annual interest rate of 4% (which will increase to 14%
upon an event of default, as defined in the Promissory Note).

The outstanding amount of
the principal and any accrued interest due under the Promissory Notes is convertible (partially or in full) into common shares, at the
option of the CLA Investors at any time after the issuance date, at a conversion price equal to the lower of (i) $1.01 or (ii) 88% of
the lowest daily volume weighted average price, or VWAP, during the 20 consecutive trading days immediately preceding the applicable date
of conversion, or the Variable Price; provided that the Variable Price may not be lower than the floor price of $0.20, which is equal
to 20% of the VWAP of the common shares during the 20 consecutive trading days immediately prior to the First Initial Closing, or the
Floor Price, subject to certain adjustments as provided in the Promissory Note. The CLA Investors’ options to convert the outstanding
amount due is subject to the limitation that the conversion may not result in each of the CLA Investors’ beneficial ownership exceeding
4.99% of our outstanding common shares.

As of the date hereof, we
have issued Promissory Notes in the aggregate principal amount of $2.5 million, of which an aggregate of $2.5 million of outstanding amounts,
including interest due under the Promissory Notes were converted into 5,171,460 Common Shares. As of the date hereof, the balance owing
on the Promissory notes is nil.

Corporate Information

We were incorporated under
the name Cyntar Ventures Inc. on July 18, 2017, pursuant to the provisions of the Business Corporations Act(British
Columbia). On March 24, 2021, we changed our name to Clearmind Medicine Inc.

Our principal executive offices