Company: CMND
Filing Date: 2025-09-15
Form Type: POS AM
Source: 0001213900-25-087398
Chunk: 28

Company: Clearmind Medicine Inc.
Filing Date: 2025-09-15
Form: POS AM
Chunk 28
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 Shareholder Rights</div>

We are a corporation
governed by the BCBCA. The following discussion summarizes material differences between the rights of holders of Common Shares and the
holders of the common stock of a typical corporation incorporated under the laws of the state of Delaware, which result from differences
in governing documents and the laws of British Columbia and Delaware. This summary is qualified in its entirety by reference to the Delaware
General Corporation Law, or the DGCL, the BCBCA, and our articles.

<div align='center'>15</div>

|                                                        |     | Delaware                                                                                                                               |     | British Columbia                                                                                                                        |
| Stockholder/Shareholder                                
 Approval of Business Combinations; Fundamental Changes |     | Under the DGCL, certain fundamental changes such as amendments                                                                         
 to the certificate of incorporation, a merger, consolidation, sale, lease, exchange or other disposition of all or substantially       
 all of the property of a corporation not in the usual and regular course of the corporation’s business, or a dissolution               
 of the corporation, are generally required to be approved by the holders of a majority of the outstanding stock entitled to vote       
 on the matter, unless the certificate of incorporation requires a higher percentage.                                                   
 However, under the DGCL, mergers in which less than 20% of a corporation’s                                                             
 stock outstanding immediately prior to the effective date of the merger is issued generally do not require stockholder approval.       
 In certain situations, the approval of a business combination may require approval by a certain number of the holders of a class       
 or series of shares. In addition, Section 251(h) of the DGCL provides that stockholders of a constituent corporation need not vote     
 to approve a merger if: (i) the merger agreement permits or requires the merger to be effected under Section 251(h) and provides       
 that the merger shall be effected as soon as practicable following the tender offer or exchange offer, (ii) a corporation consummates  
 a tender or exchange offer for any and all of the outstanding stock of such constituent corporation that would otherwise be entitled   
 to vote to approve the merger, (iii) following the consummation of the offer, the stock accepted for purchase or exchanges plus the    
 stock owned by the consummating corporation equals at least the percentage of stock that would be required to adopt the agreement      
 of merger under the DGCL, (iv) the corporation consummating the offer merges with or into such constituent corporation and (v) each    
 outstanding share of each class