Company: CMND
Filing Date: 2025-12-03
Form Type: 424B5
Source: 0001213900-25-117534
Chunk: 23

Company: Clearmind Medicine Inc.
Filing Date: 2025-12-03
Form: 424B5
Chunk 23
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 Share in this offering:

| Public offering price per Common Share                                                       
 Pro forma net positive tangible book value per Common Share as of July 31, 2025              |     |     |  0.10 
  0.18 |   |
|:---------------------------------------------------------------------------------------------|:----|:----|------:|:--|
| Increase in pro forma net tangible book value per Common Share attributable to new investors |     |     |  0.00 |   |
| Pro forma as adjusted net tangible book value per Common Share after this offering           |     |     |  0.18 |   |
| Dilution per Common Share to new investors                                                   |     |     | (0.08 | ) |

To the extent that outstanding options are exercised, new options or warrants are issued or we issue additional Common Shares in the future, there will be further dilution to new investors. We may choose to raise additional capital due to market conditions or strategic considerations even if we believe we have sufficient funds for our current or future operating plans. To the extent that we raise additional capital through the sale of equity or convertible debt securities, the issuance of these securities could result in further dilution to our equity holders.

Unless otherwise indicated, the number of common shares outstanding prior to and after this offering is based on 5,379,441 common shares outstanding as of July 31, 2025. The number of common shares referred to above to be outstanding after this offering and, unless otherwise indicated, the other information in this prospectus, excludes as of such date:

| ● | 2,238,848                                                                                                                               
 common shares issuable upon the exercise of warrants outstanding as of such date, at exercise prices ranging from $1.0777 to $243.75,   
 all of which were vested as of such date;                                                                                               |
| ● | 5,521                                                                                                                                   
 common shares issuable upon the exercise of options to directors, employees and consultants under our incentive option plan outstanding 
 as of such date, at a weighted average exercise price of $434.63, of which 5,509 were vested as of such date; and                       |
| ● | 88,248                                                                                                                                  
 common shares issuable upon the exercise of RSUs issued to consultants under consulting agreements.                                     |

<div align='center'>S-12

DESCRIPTION OF SECURITIES WE ARE OFFERING</div>

Common Shares

The material terms and provisions of our common shares are described under the heading “Description of