Company: CMND
Filing Date: 2025-11-26
Form Type: F-1
Source: 0001213900-25-115501
Chunk: 43

Company: Clearmind Medicine Inc.
Filing Date: 2025-11-26
Form: F-1
Chunk 43
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%, provided that any increase in such percentage shall not be effective until 61 days following
notice from the holder to us.

Exercise Price. The exercise price per whole
common share purchasable upon exercise of the January 2024 PIPE Warrants is $1.60 per share. The exercise price is subject to appropriate
adjustment in the event of certain share dividends and distributions, share splits, share combinations, reclassifications or similar events
affecting our common shares and also upon any distributions of assets, including cash, stock or other property to our shareholders.

Subject to certain exemptions outlined in the January
2024 PIPE Warrants, for the life of the warrant, if we shall sell, enter into an agreement to sell, or grant any option to purchase, or
sell, enter into an agreement to sell, or grant any right to reprice, or otherwise dispose of or issue (or announce any offer, sale, grant
or any option to purchase or other disposition) any common shares or convertible security, at an effective price per share less than the
exercise price of the January 2024 PIPE Warrants then in effect, or a Dilutive Issuance, the number of common shares issuable upon exercise
of the January 2024 PIPE Warrant shall be proportionally adjusted so that the aggregate exercise price of the January 2024 PIPE Warrants
shall remain unchanged.

Share Combination Event Adjustments. If
at any time on or after the date of issuance there occurs any share split, share dividend, share combination recapitalization or other
similar transaction involving our common shares and the lowest daily volume weighted average price during the five consecutive trading
days commencing on the date of such event is less than the exercise price then in effect, then the exercise price shall be reduced to
the lowest daily volume weighted average price during such five day period and the number of warrant shares issuable shall be increased
such that the aggregate exercise price payable thereunder, after taking into account the decrease in the exercise price, shall be equal
to the aggregate exercise price on the date of issuance. Such adjustment may only be made one time.

Transferability. Subject to applicable laws,
the January 2024 PIPE Warrants may be offered for sale, sold, transferred or assigned without our consent.

Exchange Listing. We do not intend to apply
to list the January 2024 PIPE Warrants on any securities exchange or nationally recognized trading system.

Fundamental Transactions. In the event
of a fundamental transaction, as