Company: CMND
Filing Date: 2025-01-22
Form Type: 20-F
Source: 0001213900-25-005490
Chunk: 252

Company: Clearmind Medicine Inc.
Filing Date: 2025-01-22
Form: 20-F
Item: Item 19
Chunk 252
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 IFRS Practice Statement 2.

The
amendments are applied for annual periods beginning on or after January 1, 2023.

  New and revised IFRS Accounting Standards in issue but not yet effective  

  IFRS                                                     

IFRS
18 replaces IAS 1, carrying forward many of the requirements in IAS 1 unchanged and complementing them with new requirements.

IFRS
18 introduces new requirements to:

  present                                                                        

  provide                                                                                      

  improve                          

An
entity is required to apply IFRS 18 for annual reporting periods beginning on or after 1 January 2027, with earlier application permitted.
The amendments to IAS 7 and IAS 33, as well as the revised IAS 8 and IFRS 7, become effective when an entity applies IFRS 18. IFRS 18
requires retrospective application with specific transition provisions.

The
Company anticipates that the application of these amendments may have an impact on the consolidated financial statements in future periods.

  Intangible  

On May 4,
2021, the Company entered into an assignment agreement to acquire certain intellectual property including a patent for “ Binge Behavior
Regulators,” which has been granted in the U. S., Europe, China and India, with pending divisional applications in Europe and the
U. S, and a patent for “ Alcohol Beverage Substitute,” which has been approved for a European patent, with pending applications
in the U. S., China and India. In consideration for the acquired intellectual property, the Company paid $ 160,000 14.6

F-18

CLEARMIND
MEDICINE INC.

Notes to
the Consolidated Financial Statements

(Expressed
in United States Dollars)

  Leases  

On
July 1, 2021, the Company entered into a lease agreement (“2021 Lease”) with Scisparc Ltd, a related party (“ Scisparc”)
and a third party for a total area of approximately 240m 2 120 The Company, Scisparc and the third party had an option to extend the 2021
Lease for an additional three-year period. The Company’s base rent was ILS11,000 per month (approximately $3,080) during the term
of the 2021 Lease. 20 18,200 5,094

On
December 25, 2023, the Company entered into an