Company: CMND
Filing Date: 2025-03-13
Form Type: POS AM
Source: 0001213900-25-023708
Chunk: 19

Company: Clearmind Medicine Inc.
Filing Date: 2025-03-13
Form: POS AM
Chunk 19
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under “Plan of Distribution.”

We may receive proceeds
from the exercise of the January 2024 PIPE Warrants to the extent that these warrants are exercised for cash by the selling shareholders.
The January 2024 PIPE Warrants, however, are exercisable on a cashless basis under certain circumstances. If all of the January 2024
PIPE Warrants mentioned above were exercised for cash in full, the proceeds would be approximately $2.4 million.

We intend to use the
net proceeds of such warrant exercise, if any, for general corporate purposes, which may include operating expenses, research and development,
including clinical and pre-clinical testing of our product candidates, working capital, future acquisitions and general capital expenditures.

The amounts and schedule of our actual expenditures
will depend on multiple factors including the progress of our clinical development and regulatory efforts, the status and results of
the clinical trials, the pace of our partnering efforts in regard to manufacturing and commercialization and the overall regulatory environment.
Therefore, our management will retain broad discretion over the use of the proceeds from this offering. We may ultimately use the proceeds
for different purposes than what we currently intend. Pending any ultimate use of any portion of the proceeds from this offering, if
the anticipated proceeds will not be sufficient to fund all the proposed purposes, our management will determine the order of priority
for using the proceeds, as well as the amount and sources of other funds needed.

Pending our application of the net proceeds from
this offering, we plan to invest such proceeds in short-term, investment-grade, interest-bearing securities and depositary institutions.

<div align='center'>DIVIDEND POLICY</div>

We have never declared or paid any cash dividends
to our shareholders of our Common Shares, and we do not anticipate or intend to pay cash dividends in the foreseeable future. Payment
of cash dividends, if any, in the future will be at the discretion of our board of directors, or our Board, in compliance with applicable
legal requirements and will depend on a number of factors, including future earnings, our financial condition, operating results, contractual
restrictions, capital requirements, business prospects, our strategic goals and plans to expand our business, applicable law and other
factors that our Board may deem relevant.

The Business Corporations Act (British Columbia),
as amended, or the BCBCA, imposes further restrictions on our ability to declare and pay dividends. See “Description of Share Capital—Dividends”
for additional information.

Payment of dividends may be subject to