Company: CMND
Filing Date: 2025-09-19
Form Type: F-1
Source: 0001213900-25-089545
Chunk: 12

Company: Clearmind Medicine Inc.
Filing Date: 2025-09-19
Form: F-1
Chunk 12
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into our common shares, in the aggregate principal amount of $2.5 million, for an aggregate purchase price of $2.25 million (90% of the
Subscription Amount). On the First Initial Closing, the CLA Investors purchased from us the First Initial Promissory Notes. Subject to
the conditions in the SPAs, on the date on which the registration statement pursuant to which this prospectus relates is declared effective
by the SEC, we shall issue and sell to the CLA Investors purchase the Second Initial Promissory Notes, in the aggregate principal amount
of $1.94 million, for a purchase price of $1.75 million. Commencing on the date that is three months after the Second Initial Closing,
we may request, at our sole discretion, that the CLA Investors purchase additional Promissory Notes in the aggregate principal amount
of $2.5 million for a purchase price of $2.25 million during each subsequent three month period such that the aggregate principal amount
of such additional Promissory Notes is $7.5 million for a purchase price of $6.75 million.

Notwithstanding the foregoing,
if at any time after the Second Initial Closing, the daily trading volume of our common shares is at least 150% of the amount of our common
shares then outstanding, then we may request, at its sole discretion, that the CLA Investors purchase additional Promissory Notes for
a purchase price payable in cash equal to 90% of the principal amount, provided however that the aggregate principal amount of Promissory
Notes purchased pursuant to the SPAs shall not exceed $7,500,000 during the period commencing as of the Second Initial Closing and until
the date that is three months after the Second Initial Closing, and thereafter shall not exceed $2,500,000 during each subsequent three-month
period, and provided further that the 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