Company: CMND
Filing Date: 2025-11-26
Form Type: F-1
Source: 0001213900-25-115501
Chunk: 31

Company: Clearmind Medicine Inc.
Filing Date: 2025-11-26
Form: F-1
Chunk 31
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 beneficial ownership limitation of 4.99%, which does not permit the selling shareholder to exercise that portion of the warrants that would result in the selling shareholder and its affiliates owning, after exercise, a number of common shares in excess of the beneficial ownership limitation. The amounts and percentages in the table do not give effect to the 4.99% beneficial ownership limitation. |
| (34) | Consists of (i) 125,000 common shares issuable upon the exercise of warrants previously issued and (ii) 750,000 common shares issuable upon the exercise of the Additional Warrant Shares underlying the January 2024 PIPE Warrants.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| (35) | Consists of 750,000 common shares issuable upon the exercise of the Additional Warrant Shares underlying the January 2024 PIPE Warrants.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| (36) | Consists of 125,000 common shares issuable upon the exercise of warrants previously issued warrants.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |

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DESCRIPTION OF SHARE CAPITAL</div>

General

The following is a summary of the material terms
of our share capital, as set forth in our articles of association, as the same will be effective at the time of the consummation of this
offering, and certain related sections of the Business Corporations Act (British Columbia), or the BCBCA. The following summary is subject
to, and is qualified in its entirety by reference to, the provisions of our articles of association and the applicable provisions of the
BCBCA.

On September 30, 2022, our shareholders approved
a one-for-30 reverse split of our issued and outstanding common shares. In addition, on November 28, 2023, we effected a one-for-30 consolidation
of our issued and outstanding common shares. Except where otherwise indicated, all share and per share data in this prospectus have been
retroactively restated to reflect the aforementioned consolidations.

Authorized Share Capital

As of November 25, 2025, we had 33,181,024 common
shares issued and outstanding and our authorized share capital consists of an unlimited number of common shares, no par value.

In the last three years, we have issued an aggregate
of 19,293,181 common shares for aggregate net proceeds of $10.9 million net of share issuance costs in several public offerings and private
placements. In addition, during