Company: CMND
Filing Date: 2025-01-22
Form Type: 20-F
Source: 0001213900-25-005490
Chunk: 207

Company: Clearmind Medicine Inc.
Filing Date: 2025-01-22
Form: 20-F
Item: Item 10
Chunk 207
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 described in the Tax Act.

The amount of any capital loss realized by a Resident
Holder that is a corporation on the disposition of a Common Share may be reduced by the amount of any dividends received or deemed to
have been received on such Common Share (or on a share for which such Common Share has been substituted) to the extent and under the
circumstances described in the Tax Act. Analogous rules apply to a partnership or trust of which a corporation, trust or partnership
is a member or beneficiary. Resident Holders should consult their own tax advisors in this regard.

Taxable capital gains realized by a Resident Holder
who is an individual (including certain trusts) may give rise to liability for alternative minimum tax as calculated under the detailed
rules set out in the Tax Act. A Resident Holder that is a “ Canadian-controlled private corporation” (as defined in the Tax
Act) may be liable to pay an additional refundable tax on certain investment income, including taxable capital gains.

Eligibility for Investment

Following the closing of the offering, the Common
Shares become qualified investments under the Tax Act and the regulations thereunder for trusts governed by registered retirement savings
plans, registered retirement income funds, registered education savings plans, registered disability savings plans, tax-free savings
accounts (collectively “ Registered Plans”) and deferred profit sharing plans, or DPSPs, all as defined in the Tax Act.

Notwithstanding the foregoing, the holder of,
subscriber or annuitant under, a Registered Plan (the “ Controlling Individual”) will be subject to a penalty tax in respect
of Common Shares acquired by the Registered Plan if such shares are a prohibited investment for the particular Registered Plan. A Common
Share generally will not be a “prohibited investment” for a Registered Plan provided the Controlling Individual deals at
arm’s length with the Company for the purposes of the Tax Act and the Controlling Individual does not have a “significant
interest” (as defined in subsection 207.01(4) the Tax Act) in the Company.

Prospective investors who intend to hold Common
Shares in a Registered Plan or DPSP are advised to consult their personal tax advisors.

Non-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 and any applicable tax treaty or convention (a) is not,
and is not deemed to be, resident in Canada, and (b) does not use or hold, and is not deemed to