Company: CMND
Filing Date: 2025-12-05
Form Type: F-1/A
Source: 0001213900-25-118772
Chunk: 275

Company: Clearmind Medicine Inc.
Filing Date: 2025-12-05
Form: F-1/A
Chunk 275
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 - $221,625) which was recorded as share-based compensation expense. |

F-30 CLEARMIND MEDICINE INC. Notes to the Consolidated Financial Statements (Expressed in United States Dollars)

| 11. | Restricted  
 Share Units |

| b. | The following table summarizes the changes in RSUs: |

|                           |     | Number 
 of     
 RSUs   |          |   |     | Weighted         
 average          
 issue price (C$) |        |     | Weighted           
 average            
 issue price (USD$) |        |
|:--------------------------|:----|:-------|---------:|:--|:----|:-----------------|-------:|:----|:-------------------|-------:|
| Balance, October 31, 2022 |     |        |    1,407 |   |     | $                | 375.54 |     | $                  | 273.42 |
| Granted                   |     |        |    2,200 |   |     |                  |  55.97 |     |                    |  41.63 |
| Exercised                 |     |        |   (1,391 | ) |     |                  | 246.64 |     |                    | 189.37 |
| Balance, October 31, 2023 |     |        |    2,216 |   |     | $                | 138.55 |     | $                  |  96.06 |
| Granted (i)               |     |        |  591,460 |   |     |                  |   1.86 |     |                    |   1.36 |
| Exercised                 |     |        | (329,338 | ) |     |                  |   2.22 |     |                    |   1.65 |
| Balance, October 31, 2024 |     |        |  264,338 |   |     | $                |   2.55 |     | $                  |   1.80 |

| (i) | During the year ended October 31, 2024, the Company issued 591,460 RSU’s to consultants, directors and officers. The RSU’s vested with a fair value of $804,962 (2023-$91,589). |

| 12. | Financial                       
 Instruments and Risk Management |

| a. | Fair Values |

Fair value