Company: CMND
Filing Date: 2025-01-22
Form Type: 20-F
Source: 0001213900-25-005490
Chunk: 189

Company: Clearmind Medicine Inc.
Filing Date: 2025-01-22
Form: 20-F
Item: Item 6
Chunk 189
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, there is no minimum number of directors required
to be resident Canadians.

Director Term Limits and Other Mechanisms
of Board Renewal

Our Board has not adopted director term limits
or other automatic mechanisms of board renewal. Rather than adopting formal term limits, mandatory age-related retirement policies and
other mechanisms of board renewal, the Nominating and Corporate Governance Committee of our Board will develop a skills and competencies
matrix for our Board as a whole and for individual directors. The Nominating and Corporate Governance Committee will also conduct a process
for the assessment of our Board, each committee and each director regarding his or her effectiveness and contribution, and will report
evaluation results to our Board on a regular basis.

Director Independence under Canadian Regulation

Under NI 58-101, a director is considered to be
independent if he or she is independent within the meaning of Section 1.4 of National Instrument 52-110 - Audit Committees.
Section 1.4 of NI 52-110 generally provides that a director is independent if he or she has no direct or indirect “material relationship”
with the issuer which could, in the view of the issuer’s board of directors, be reasonably expected to interfere with the exercise
of the director’s independent judgment. Notwithstanding the foregoing, the following are deemed as being in a material relationship:
(a) an individual who is, or has been within the last three years, an employee or executive officer of the issuer; (b) an individual whose
immediate family member is, or has been within the last three years, an executive officer of the issuer; (c) an individual who: (i) is
a partner of a firm that is the issuer’s internal or external auditor, (ii) is an employee of that firm, or (iii) was within the
last three years a partner or employee of that firm and personally worked on the issuer’s audit within that time; (d) an individual
whose spouse, minor child or stepchild, or child or stepchild who shares a home with the individual: (i) is a partner of a firm that is
the issuer’s internal or external auditor, (ii) is an employee of that firm and participates in its audit, assurance or tax compliance
(but not tax planning) practice, or (iii) was within the last three years a partner or employee of that firm and personally worked on
the issuer’s audit within that time; (e) an individual who, or whose immediate family member,