Company: CMND
Filing Date: 2025-09-19
Form Type: F-1
Source: 0001213900-25-089545
Chunk: 22

Company: Clearmind Medicine Inc.
Filing Date: 2025-09-19
Form: F-1
Chunk 22
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 future. You should, however, review the factors
and risks we describe in the reports we will file from time to time with the SEC after the date of this prospectus. See “Where You
Can Find More Information.”

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USE OF PROCEEDS</div>

As
of the date of this prospectus, we have received $0.5 million in gross proceeds from the issuance of the First Initial Promissory Notes.
In addition, we will receive an additional $1.75 million in aggregate gross proceeds under the SPAs from sales of the Second Initial Promissory
Notes on the date on which the registration statement pursuant to which this prospectus relates is declared effective by the SEC and we
will receive an additional $6.75 million in aggregate gross proceeds under the SPAs from sales of additional Promissory Notes during each
subsequent three month period commencing on the date that is three months after the Second Initial Closing.

We
will not receive any proceeds from the sale of the common shares by the selling shareholders. All net proceeds from the sale of the common
shares covered by this prospectus will go to the selling shareholders. We expect that the selling shareholders will sell their common
shares as described under “Plan of Distribution.”

We
intend to use the net proceeds received from the issuance of the Promissory Notes from time to time, if any, for general corporate purposes,
which may include operating expenses, research and development, including clinical and pre-clinical testing of our product candidates,
working capital, future acquisitions and general capital expenditures.

The
amounts and schedule of our actual expenditures will depend on multiple factors including the progress of our clinical development and
regulatory efforts, the status and results of the clinical trials, the pace of our partnering efforts in regard to manufacturing and commercialization
and the overall regulatory environment. Therefore, our management will retain broad discretion over the use of the proceeds from this
offering. We may ultimately use the proceeds for different purposes than what we currently intend. Pending any ultimate use of any portion
of the proceeds from this offering, if the anticipated proceeds will not be sufficient to fund all the proposed purposes, our management
will determine the order of priority for using the proceeds, as well as the amount and sources of other funds needed.

Pending
our application of the net proceeds from this offering, we plan to invest such proceeds in short-term, investment-grade, interest-bearing
securities and depositary institutions.

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