Company: CMND
Filing Date: 2025-12-03
Form Type: 424B5
Source: 0001213900-25-117534
Chunk: 17

Company: Clearmind Medicine Inc.
Filing Date: 2025-12-03
Form: 424B5
Chunk 17
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 possible hostilities with other organizations, several hundred thousand
Israeli military reservists were drafted to perform immediate military service, including five full time employees in Israel of ours.
Although many of such military reservists have since been released, including all our employees, they may be called up for additional
reserve duty, depending on developments in the war in Gaza and along Israel’s other borders. Military service call ups that result
in absences of personnel from us for an extended period of time may materially and adversely affect our business, prospects, financial
condition and results of operations. As of December 2, 2025, none of our directors, officers or employees are serving in active
or reserve duty.

Since the war broke out on October 7, 2023, our operations have not been adversely affected by this situation, and we have not experienced disruptions to our clinical studies, facilities or the manufacturing or supply of our drug candidates. While the intensity and duration of the security situation in Israel have been difficult to predict, as were the economic implications on our business and operations and on Israel’s economy in general, the ceasefire marks a potential shift towards stability in the region. If sustained, this could reduce the risk of disruptions to our business and the Israeli economy in general. However, if the war is renewed or expands to other fronts, such as Lebanon, Syria and the West Bank, our operations may be harmed.

Our insurance does not cover losses that may occur as a result of an event associated with the security situation in the Middle East or for any resulting disruption in our operations. Although the Israeli government has in the past covered the reinstatement value of direct damages that were caused by terrorist attacks or acts of war, we cannot assure you that this government coverage will be maintained or, if maintained, will be sufficient to compensate us fully for damages incurred, and the government may cease providing such coverage or the coverage might not suffice to cover potential damages. Any losses or damages incurred by us could have a material adverse effect on our business.

Finally, political conditions within Israel may affect our operations. Israel has held five general elections between 2019 and 2022, and prior to October 2023, the Israeli government pursued extensive changes to Israel’s judicial system, which sparked extensive political debate and unrest. Actual or perceived political instability in Israel or any negative changes in the political environment, may individually or in the aggregate adversely affect the Israeli economy and, in turn, our business, financial condition, results of operations and growth prospects.

Our failure to regain and maintain