Company: CMND
Filing Date: 2025-11-13
Form Type: 424B5
Source: 0001213900-25-109567
Chunk: 27

Company: Clearmind Medicine Inc.
Filing Date: 2025-11-13
Form: 424B5
Chunk 27
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     |     |  0.11 |   |
| Pro forma as adjusted net tangible book value per Common Share after this offering           |     |     |  0.29 |   |
| Dilution per Common Share to new investors                                                   |     |     | (0.10 | ) |

To the extent that outstanding
options are exercised, new options or warrants are issued or we issue additional Common Shares in the future, there will be further dilution
to new investors. We may choose to raise additional capital due to market conditions or strategic considerations even if we believe we
have sufficient funds for our current or future operating plans. To the extent that we raise additional capital through the sale of equity
or convertible debt securities, the issuance of these securities could result in further dilution to our equity holders.

Unless otherwise indicated,
the number of common shares outstanding prior to and after this offering is based on 5,379,441 common shares outstanding as of July
31, 2025. The number of common shares referred to above to be outstanding after this offering and, unless otherwise indicated, the other
information in this prospectus, excludes as of such date:

| ● | 2,238,848 common shares issuable upon the exercise of warrants outstanding as of such date, at exercise prices ranging from $1.0777 to $243.75, all of which were vested as of such date;                                                                       |
| ● | 5,521 common shares issuable upon the exercise of options to directors, employees and consultants under our incentive option plan outstanding as of such date, at a weighted average exercise price of $434.63, of which 5,509 were vested as of such date; and |
| ● | 88,248 common shares issuable upon the exercise of RSUs issued to consultants under consulting agreements.                                                                                                                                                      |

<div align='center'>S-13

DESCRIPTION OF SECURITIES WE ARE OFFERING</div>

Common Shares

The material terms and provisions
of our common shares are described under the heading “Description of Share Capital” in the accompanying prospectus.

Pre-Funded Warrants

The following is a summary
of the material terms and provisions of the pre-funded warrants that are being offered hereby. This summary is subject to and qualified
in its entirety by the form of pre-funded warrants, which has been provided to the investor in this offering and which will be filed with
the SEC as an exhibit to our Report of Foreign Private Issuer on Form 6-K