Company: CMND
Filing Date: 2025-01-22
Form Type: 20-F
Source: 0001213900-25-005490
Chunk: 0

Company: Clearmind Medicine Inc.
Filing Date: 2025-01-22
Form: 20-F
Item: Item 3
Chunk 0
---
ITEM 3. KEY INFORMATION

A. [Reserved]

B. Capitalization and Indebtedness

Not applicable.

C. Reasons for the Offer and Use of Proceeds

Not applicable.

D. Risk Factors

You should carefully consider the risks described
below, together with all of the other information in this Annual Report on Form 20-F. The risks and uncertainties described below are
those material risk factors, currently known and specific to us, that we believe are relevant to an investment in our securities. Additional
risks and uncertainties not currently known to us or that we now deem immaterial may also harm us. If any of these risks materialize our
business, results of operations or financial condition could suffer, and the price of our common shares could decline substantially.

Summary Risk Factors

Our business is subject to numerous risks and uncertainties,
including those highlighted in the section titled “ Risk Factors” below. These risks include, among others, the following:

Risks Related to Our Financial Condition and Capital Requirements

  We have incurred losses since our inception. We anticipate that we will incur significant losses for the foreseeable future, and we may never achieve or maintain profitability.  
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────

  Our financial statements contain an explanatory paragraph regarding substantial doubt about our ability to continue as a going concern.  

  We have never generated any revenue from product sales and may                                                                   
  never be profitable.                                                                                                             
  We expect that we will need to raise substantial additional funding, which may not be available on acceptable terms, or at all.  
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────

Risks Related to the Clinical Development, Regulatory Review
and Approval of our Product Candidates

  Most of our product candidates are in preclinical development. To date, we have not enrolled any patients to our clinical trials.  

  We may not receive, or may be delayed in receiving, the necessary approvals for MEAI or future products.  
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────

  Clinical and preclinical development is uncertain.  

  Clinical trials of our product candidates may be delayed, and certain programs may never advance in the clinic or may be more costly to conduct than we anticipate.  
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────

  Our