Company: CMND
Filing Date: 2025-06-12
Form Type: POS AM
Source: 0001213900-25-053898
Chunk: 21

Company: Clearmind Medicine Inc.
Filing Date: 2025-06-12
Form: POS AM
Chunk 21
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,134,786 Common Shares outstanding as of April 30, 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 $435.64, of which 5,504 were vested as of such date; and                                                         |
| ● | 245,903 common shares issuable upon the exercise                                                                                   
 of restricted share units issued to consultants under consulting agreements.                                                       |

<div align='center'>9

SELLING SHAREHOLDERS</div>

The common shares being offered by the selling
shareholders are those previously issued to the selling shareholders, and those issuable to the selling shareholders, upon exercise of
the January 2024 PIPE Warrants. For additional information regarding the issuances of the January 2024 PIPE Warrants, see “Prospectus
Summary – January 2024 Offering” above. We are registering the common shares underlying the January 2024 PIPE Warrants in
order to permit the selling shareholders to offer the common shares for resale from time to time. Except for the ownership of common
shares and the January 2024 PIPE Warrants, the selling shareholders have not had any material relationship with us within the past three
years.

The table below lists the selling shareholders
and other information regarding the beneficial ownership of the common shares by each of the selling shareholders. The second column
lists the number of common shares beneficially owned by each selling shareholder, based on its ownership of the common shares and warrants,
as of January 21, 2025, assuming exercise of the January 2024 PIPE Warrants held by the selling shareholders on that date, without
regard to any limitations on exercises.

The third column lists the common shares being
offered by this prospectus by the selling shareholders.

In accordance with the terms of a registration
rights agreement with the selling shareholders, this prospectus generally covers the resale of the sum of (i) the number