Company: CMND
Filing Date: 2025-01-22
Form Type: 20-F
Source: 0001213900-25-005490
Chunk: 222

Company: Clearmind Medicine Inc.
Filing Date: 2025-01-22
Form: 20-F
Item: Item 15
Chunk 222
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ITEM 15. CONTROLS AND PROCEDURES

(a) Disclosure Controls and Procedures

Our management, with the participation of our
Chief Executive Officer and Chief Financial Officer, has evaluated the effectiveness of our disclosure controls and procedures (as such
term is defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) as of October 31, 2024, or the Evaluation Date. Based on such
evaluation, those officers have concluded that, as of the Evaluation Date, our disclosure controls and procedures were effective in recording,
processing, summarizing and reporting, on a timely basis, information required to be included in periodic filings under the Exchange
Act and that such information is accumulated and communicated to management, including our principal executive and financial officers, as
appropriate to allow timely decisions regarding required disclosure.

(b) Management’s Annual Report on Internal Control
over Financial Reporting

Our management is responsible for establishing
and maintaining adequate internal control over financial reporting, as such term is defined in Rule 13a-15(f) under the Exchange Act.
Our management conducted an assessment of the effectiveness of our internal control over financial reporting as of October 31, 2024 based
on the criteria set forth in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of
the Treadway Commission (2013 framework). Based on that assessment, our management concluded that our internal controls over financial
reporting were effective as of October 31, 2024,

As defined in Regulation 12b-2 under the Exchange
Act, a “material weakness” is a deficiency, or combination of deficiencies, in internal control over financial reporting,
such that there is a reasonable possibility that a material misstatement of our annual or interim consolidated financial statements will
not be prevented, or detected on a timely basis.

As previously disclosed in our Annual Report on
Form 20-F for the year ended October 31, 2023, as of October 31, 2023, our internal control over financial reporting was ineffective
due to the following material weaknesses: lack of segregation of duties within account processes, and systems, inadequate documentation
to evidence the operation of controls, inconsistent procedures and approvals, lack of periodic user access reviews, lack of assessment
of controls of financially significant vendors and insufficient written policies and procedures for accounting, IT and financial reporting
and record keeping. In response to these material weaknesses, we implemented a remediation plan.

As part of such