Company: CMND
Filing Date: 2025-01-22
Form Type: 20-F
Source: 0001213900-25-005490
Chunk: 192

Company: Clearmind Medicine Inc.
Filing Date: 2025-01-22
Form: 20-F
Item: Item 6
Chunk 192
---
owing policy which will contain procedures that are aimed to facilitate confidential, anonymous
submissions of complaints by our directors, officers, employees and others.

Committees of the Board of Directors

Audit Committee

Our Audit Committee is currently comprised of Oz
Adler, Yehonatan Shachar and Assaf Ithaki, and is chaired by Oz Adler. Our Board has determined that each of the members of the committee
are financially literate and meets the independence requirements for directors, including the heightened independence standards for members
of the Audit Committee under Rule 10A-3 under the Exchange Act and NI 52-110. Our Board has determined that Oz Adler is “financially
sophisticated” within the meaning of the Nasdaq Rules, “financially literate” within the meaning of NI 52-110, and a
“financial expert” as defined by Rule 10A-3 under the Exchange Act. For a description of the education and experience of each
member of the Audit Committee, see “ Item 6. A. Directors, Senior Management and Employees.”

We have adopted an Audit Committee Charter setting
forth the purpose, composition, authority and responsibility of the Audit Committee.

The role of the Audit Committee is to provide oversight
of the Company’s financial management and of the design and implementation of an effective system of internal financial controls
as well as to review and report to the Board on the integrity of the financial statements of the Company, its subsidiaries and associated
companies. This includes helping directors meet their responsibilities, facilitating better communication between directors and the external
auditor, enhancing the independence of the external auditor, increasing the credibility and objectivity of financial reports and strengthening
the role of the directors by facilitating in-depth discussions among directors, management and the external auditor. Management is responsible
for establishing and maintaining those controls, procedures and processes and the Committee is appointed by the Board to review and monitor
them. The Company’s external auditor is ultimately accountable to the Board and the Committee as representatives of the Company’s
shareholders.

The Committee’s primary duties and responsibilities
are to:

  Serve as an independent and objective party to monitor the Company’s financial reporting and internal control system and review Company’s financial statements;  

  Review and appraise the performance of the Company’s external auditors; and  

  Provide an open avenue of communication among the Company’s auditors, financial and senior management and the Board.  

The Audit Committee shall meet at least annually,
or more frequently as circumstances dictate.