Company: CMND
Filing Date: 2025-09-15
Form Type: POS AM
Source: 0001213900-25-087398
Chunk: 23

Company: Clearmind Medicine Inc.
Filing Date: 2025-09-15
Form: POS AM
Chunk 23
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 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 September 12, 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 of common shares
issued to the selling shareholders in the “Prospectus Summary – January 2024 Offering” described above and (ii) the
maximum number of common shares issuable upon exercise of the January 2024 PIPE Warrants, determined as if the outstanding January 2024
PIPE Warrants were exercised in full as of the trading day immediately preceding the date this registration statement was initially filed
with the SEC, each as of the trading day immediately preceding the applicable date of determination and all subject to adjustment as
provided in the registration rights agreement, without regard to any limitations on the exercise of the January 2024 PIPE Warrants. The
fourth column assumes the sale of all of the common shares offered by the selling shareholders pursuant to this prospectus.

Under the terms of the January 2024 PIPE Warrants,
a selling shareholder may not exercise the January 2024 PIPE Warrants to the extent such exercise would cause such selling shareholder,
together with its affiliates and attribution parties, to beneficially own a number of common shares which would exceed 4.99% or 9.99%,
as applicable, of our then outstanding common shares following such exercise, excluding for purposes of such determination common shares
issuable upon exercise of the January 2024 PIPE Warrants that have not been exercised. The number of common shares in the second column
does not reflect this limitation. The selling shareholders may