Company: CMND
Filing Date: 2025-12-05
Form Type: F-1/A
Source: 0001213900-25-118772
Chunk: 287

Company: Clearmind Medicine Inc.
Filing Date: 2025-12-05
Form: F-1/A
Chunk 287
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 end of each reporting period. The number of April 2023 Warrants does not change, however, the number of warrant shares issued may change, subject to the adjustment noted above. |

On January 21, 2024, following the January
2024 Public Offering, which included the offering of common shares at a price lower than the exercise price of the April 2023 Warrants,
the exercise price of the April 2023 Warrants was reduced to $, and each April 2023 Warrant became exercisable into common
shares of the Company. For further details of the ratio of warrant shares issuable and outstanding in relation to the April 2023 Warrants,
see detailed table in note 7.

On December 16, 2024, April 2023
Warrants were exercised into common shares, resulting in gross proceeds of $.

| b. | On September 18, 2023, the Company issued 7,500,000 warrants in connection with its September 2023 Public Offering (“September 2023 Warrants”). The September 2023 Warrants include a cashless exercise provision and repricing adjustments for offerings at a price lower than the existing exercise price of the September 2023 Warrants, as well as repricing adjustments for stock splits, reclassifications, subdivisions, and other similar transactions (“September 2023 Warrant Adjustments”) and therefore, these September 2023 Warrants were recorded at their fair value as a derivative liability at the time of the grant and are revalued at the end of each reporting period. The number of September 2023 Warrants does not change, however, the number of warrant shares issued may change, subject to the adjustment noted above. |

On January 21, 2024, following the
January 2024 Public Offering, which included the offering of common shares at a price lower than the exercise price of the September 2023
Warrants, the exercise price of the September 2023 Warrants was reduced to $, and each September 2023 Warrant became exercisable
into common shares of the Company. For further details of the ratio of warrant shares issuable and outstanding in relation to the
September 2023 Warrants, see detailed table in note 7.

On December 27, 2024, September
2023 Warrants were exercised into common shares, resulting in gross proceeds of $.

F-48 CLEARMIND MEDICINE INC. Notes to the Condensed