Company: CMND
Filing Date: 2025-09-19
Form Type: F-1
Source: 0001213900-25-089545
Chunk: 2

Company: Clearmind Medicine Inc.
Filing Date: 2025-09-19
Form: F-1
Chunk 2
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 award grants outside of our Omnibus Stock Award Plan, or the Plan. The maximum amount of common shares
issuable under this prospectus as a result of the conversion of the Promissory Notes is calculated based on a principal amount of $2.5
million and the accrued interest thereon in the amount of $894,048 and assuming a conversion price of $0.20.

On September 17, 2025, we
entered into securities purchase agreements, or the SPAs, with certain institutional investor parties that are named as selling shareholders
in the registration statement to which this prospectus relates, or the CLA Investors. Pursuant to the SPAs, we issued and sold, or shall
issue and sell, from time to time, to the CLA Investors, convertible promissory notes, or the Promissory Notes, in the aggregate principal
amount of $10.0 million, or the Subscription Amount, for an aggregate purchase price of $9.0 million (90% of the Subscription Amount).
Upon the signing of the SPAs on September 17, 2025, or the First Initial Closing, the CLA Investors purchased from us Promissory Notes
in the aggregate principal amount of $555,556, for a purchase price of $500,000, or the First Initial Promissory Notes. Subject to the
conditions in the SPAs, on the date on which the registration statement pursuant to which this prospectus relates is declared effective
by the Securities and Exchange Commission, or the SEC and the Second Initial Closing, we shall issue and sell to the CLA Investors additional
Promissory Notes, or the Second Initial Promissory Notes and together with the First Initial Promissory Notes, the Initial Promissory
Notes, in the aggregate principal amount of $1,944,444, for a purchase price of $1,750,000. Commencing on the date that is three months
after the Second Initial Closing, we may request, at our sole discretion, that the CLA Investors purchase additional Promissory Notes
in the aggregate principal amount of $2,500,000 for a purchase price of $2,250,000 during each subsequent three month period such that
the aggregate principal amount of such additional Promissory Notes is $7,500,000 for a purchase price of $6,750,000.

Notwithstanding the foregoing,
if at any time after the Second Initial Closing, the daily trading volume of our common shares is at