Company: CMND
Filing Date: 2025-01-22
Form Type: 20-F
Source: 0001213900-25-005490
Chunk: 219

Company: Clearmind Medicine Inc.
Filing Date: 2025-01-22
Form: 20-F
Item: Item 10
Chunk 219
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Foreign Currency Exchange Risk

Our results of operations and cash flow are subject
to fluctuations due to changes mainly in NIS/USD currency exchange rates. As of October 31, 2024, the majority of our liquid assets are
held in USD, and the majority of our expenses is denominated in U. S. dollars or ILS. Changes of both 5% and 10% in the NIS/USD and CAD/USD
exchange rate would decrease/increase our loss for 2024 by less than 0.04% and 0.09%, respectively. However, these historical figures
may not be indicative of future exposure, as we expect that the percentage of our NIS denominated expenses will materially decrease in
the near future, therefore reducing our exposure to exchange rate fluctuations.

We do not hedge our foreign currency exchange
risk. In the future, we may enter into formal currency hedging transactions to decrease the risk of financial exposure from fluctuations
in the exchange rates of our principal operating currencies. These measures, however, may not adequately protect us from the material
adverse effects of such fluctuations.

ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES