Company: CMND
Filing Date: 2025-01-22
Form Type: 20-F
Source: 0001213900-25-005490
Chunk: 204

Company: Clearmind Medicine Inc.
Filing Date: 2025-01-22
Form: 20-F
Item: Item 10
Chunk 204
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 Revenue Agency. This summary assumes that
the Proposed Amendments will be enacted in the form proposed; however, no assurance can be given that the Proposed Amendments will be
enacted in the form proposed, if at all. This summary is not exhaustive of all possible Canadian federal income tax considerations and,
except for the Proposed Amendments, does not take into account any changes in law, whether by legislative, governmental or judicial action,
nor does it take into account provincial, territorial or foreign tax considerations, which may differ from those discussed herein.

This summary is of a general nature only and is
not intended to be, nor should it be construed to be, legal or tax advice to any particular Holder, and no representations with respect
to the income tax consequences to any Holder are made. Consequently, Holders and prospective holders of Common Shares should consult
their own tax advisors for advice with respect to the tax consequences to them of acquiring such shares, having regard to their particular
circumstances. This summary does not address any tax considerations applicable to persons other than Holders and such persons should
consult their own tax advisors regarding the consequences of acquiring, holding and disposing of Common Shares under the Tax Act and
any jurisdiction in which they may be subject to tax.

Foreign Exchange

For purposes of the Tax Act, all amounts expressed
in a currency other than Canadian dollars relating to the acquisition, holding or disposition of Common Shares, including dividends,
adjusted cost base and proceeds of disposition, must be determined in Canadian dollars using the relevant rate of exchange required under
the Tax Act.

Residents of Canada

The following portion of this summary is generally
applicable to a Holder who, at all relevant times for purposes of the Tax Act (a) is, or is deemed to be, resident in Canada, (b) holds
Common Shares as “capital property”, and (c) is not affiliated with us or the underwriters (a “ Resident Holder”).
Generally, Common Shares will be considered to be capital property to a Resident Holder unless they are held in the course of carrying
on a business or as part of an adventure or concern in the nature of trade. Certain Resident Holders whose Common Shares do not otherwise
qualify as capital property may, in certain circumstances, make an irrevocable election in accordance with subsection 39(4) of the Tax
Act to have their Common Shares and every other “ Canadian security” (as defined in the Tax Act) owned by such holder in the
taxation year of the election and in