Company: CMND
Filing Date: 2025-11-19
Form Type: 424B5
Source: 0001213900-25-112329
Chunk: 15

Company: Clearmind Medicine Inc.
Filing Date: 2025-11-19
Form: 424B5
Chunk 15
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 additional capital in the future. Raising additional capital by issuing securities may cause dilution to existing shareholders.

We have incurred losses in
each year since our inception. If we continue to use cash at our historical rates of use we will need significant additional financing,
which we may seek through a combination of private and public equity offerings, debt financings and collaborations and strategic and licensing
arrangements. To the extent that we raise additional capital through the sale of equity or convertible debt securities, the ownership
interest will be diluted, and the terms of any such offerings may include liquidation or other preferences that may adversely affect the
then existing shareholders rights. Debt financing, if available, would result in increased fixed payment obligations and may involve agreements
that include covenants limiting or restricting our ability to take specific actions such as incurring debt or making capital expenditures.
If we raise additional funds through collaboration, strategic alliance or licensing arrangements with third parties, we may have to relinquish
valuable rights to our technologies, future revenue streams or product candidates, or grant licenses on terms that are not favorable to
us.

You will experience immediate dilution in book value of any Common Shares you purchase.

Because the price per Common
Share being offered is substantially higher than our net tangible book value per Common Share, you will suffer substantial dilution in
the net tangible book value of any Common Shares you purchase in this offering. After giving effect to the sale by us of Common Shares
in this offering, based on a public offering price of $0.20 per Common Share, and after deducting offering expenses payable by us,
our pro forma as adjusted net tangible book value of our Common Shares would be approximately $8.26 million, or approximately $0.25 per
Common Share, as of July 31, 2025. If you purchase Common Shares in this offering, you will suffer immediate and substantial dilution
of approximately $0.05 per Common Share. To the extent outstanding options or warrants are exercised, you will incur further dilution.
See “Dilution” on page S-13 for a more detailed discussion of the dilution you will incur in connection with this offering.

<div align='center'>S-6</div>

Common Shares representing a substantial percentage of our outstanding shares may be sold in this offering, which could cause the price of our Common Sharesto decline.

We are selling in this offering
10,925,000 Common Shares, or approximately 49%, of our outstanding Common Shares, prior to this